Looks like NAOS picked up another 4% of the company (see snip below). The sellers being Perpetual and Mrs Loimaranta. Mind you, NAOS track record for stock picking is woeful. They now own ~20% of the company. The SP just hit a new 3 year low of $1.75 having dipped below the previous support level of $1.80 set on 15/6/22. NAOS are doubling down on a losing position. Looking at the chart I'm expecting the SP to fall further to around $1.50 in the short term. After that, will depend on how the business performs.
MXI Price at posting:
$1.75 Sentiment: Hold Disclosure: Not Held
