I read the announcement as 'crap, the SP is dropping. Let's give them an update and let everyone know we are still on track for expansion of our sites and eventual revenue'.
The issue is the market is still adjusting to their lower growth pathway which has also taken analysts by surprise. CEO is now projecting a hokey stick in sales from H2 onwards. Until he can deliver some decent growth in sales, there is limited trust left in his predictions. Probably this period will be seen as the low in SP when we look back in 12 months time, but I'm already maxed out on my allocation for AXP.
AXP Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
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