They also carried a big load of debt at that time too. The company is in a far better position today than around the GFC - with US$80m+ in cash and investments (80 odd cents per share) and no debt. Even if FUM dropped to 1H2018 levels of US$8b, they could probably breakeven at an EBIT level comfortably without doing anything from the normal. Major cost for these guys is employee expense. This could be managed relatively easily during this period if required (pay cuts, redundancies). It just appears some big holder decided to get the hell out at any cost in a relatively illiquid stock.
NGI Price at posting:
$1.24 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)