Bingo!
I guess a lot of the punters who sold yesterday have either not read the results or have not understood them and/or their implications.
There was a strong element of panic selling, especially from retail, who, unfortunately for them, lack the nous and appreciation of what the business is all about.
The sheer volume of stock that went thru suggests a herd mentality among holders, much to their collective detriment.
Perhaps some of the sellers were those who got stock in the original IPO and sold before their profits evaporated completely.
They will rue the fact next week and will have to buy higher to get back in.
the devil is in the detail, and as your excerpt point out, management have clearly stated their M&A intentions as well as the fact that 2nd half numbers will far exceed those in the 1st half ...... happy days on the horizon.
Bingo!I guess a lot of the punters who sold yesterday have...
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Last
$2.12 |
Change
0.080(3.92%) |
Mkt cap ! $682.6M | |||
| Open | High | Low | Value | Volume |
| $2.05 | $2.14 | $1.98 | $1.033M | 497.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 24363 | $2.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.14 | 6000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.14 |
Change
0.080 ( 4.49 %) |
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| Open | High | Low | Volume | ||
| $2.02 | $2.14 | $1.99 | 49424 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| NXL (ASX) Chart |