Hanaga's:PRR is not strongly correlated with the broader market...

Hanaga's:

PRR is not strongly correlated with the broader market - look at a price chart of the All ords (XAO) vs PRR, you'll see its driven by stock specific news-flow.

So this whole attitude that the markets in EU or financial markets are brining down PRR is rubbish in my opinion. The share price has been smashed because people bid up the stock on illogical reasons - e.g Nasdaq listing, and it came undone when that was shown up to be a 'non-event'. It then suffered more with unexpected senior management turnover, and the scrapping of some blue-sky projects (dubai, cripto ect). Chuck in the fact that some investors realised at the shareholder briefing that its a longer story to market than they initially though (the one question suggested the old man didn't even realise CVac is not a cure, but a maintenance therapy). Nevermind you've had the listed comparables (ONTY, DNDN) dissapointing and getting smashed which hurts the sector, so comparatively PRR's valuation looked out of sync.

Lets not sit on our hands and pretend PRR is down because the Greek's are about to default, the stock is held by Aussie retail shareholders, is an insignificant portion of the index, and there appears no obvious correlation to macroeconomic events. The stock price is lower because shareholders have lost faith.