It’s nothing to do with weather. Cairns is just in a cyclical downturn. Even a lot of local small businesses are going out of business. You just have to walk the streets to see that the tourism numbers are way down on last year.
Air pax numbers are down and at least one major route out of China is about to go. Reef boats are reporting lower numbers as well as hotels.
I just feel that the pullout of the dunk contract indicates that EXP are starting to realise they may have bit off more than they can chew. It really though comes down to terrible timing.
The CEO of tropical North Queensland tourism just quit as well. I think she may have been pushed. It really is a tough time for tourism up north and I really don’t know what is going to change it.
I sold out just above 30c for a very small profit. I really want to be a shareholder again but I’m very cautious.
EXP Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
