Getting all philosophical I think there's an element of the highly-geared affluents trying to reduce their gearing using one of the few liquid investments available (I.e. the stock market generally). If I was part of a Double Income family with good jobs and $1.2m in debt I might be inclined to cash up a bit whatever it takes.
Individual property obviously isn't particularly liquid so there are a bunch of highly profitable companies getting hit, that's before we get to the more speculative end of media in OML.
The question I'm more interested in is what might cause it (and similar companies) to start rising again. Alternatively, given I have 22 other stocks is the pricing of this one sufficiently compelling to sell one of the other more speculative investments to invest here?
For me, not yet.
OML Price at posting:
$1.17 Sentiment: None Disclosure: Not Held
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