Can't say I'm surprised. AX1 has held up well in tough conditions. Conditions remain tough for discretionary retailers, with plenty of reports of customers shopping for price and possibly delaying purchases. So it was only a matter of time until there was a hit to profit, and an over-reaction of some shareholders to that.
I haven't checked the exact numbers, but we're now back at where the share price that was in about June this year. Anyone who has held AX1 for (ballpark) a year or more is still getting a good return. Part of the price of admission to shares is being able to tolerate fluctuations of share price like this.
I'm holding for now, but will keep an eye on what happens from here, with a view to maybe buying more.
AX1 Price at posting:
$2.18 Sentiment: Hold Disclosure: Held
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