Heading south again today... anyone got any insight as to why?...

Heading south again today... anyone got any insight as to why?

@JackMR,

I normally spend next to no time worrying about short-term share price movements, but I coincidentally just happened to stumble across a media article yesterday reporting that Melbourne-based Antares Capital was closing its small cap fund and returning liquidated proceeds to unit holders.

NIB is one of the fund's holdings, so that might explain a few things for you.

Then again, the fund is not overly meaningful in size (just $33m), so the value of NIB stock that we are talking about here is unlikely to be overly material (maybe one or two million dollars' worth). Besides, when funds like this are wound up, usually stock is crossed to other funds operated by the same fund manager, or to funds operated by other managers, without going through the market at all.

So, quite possibly, the Antares story might not be the cause of the share price behaviour, after all.

So, make of it what you will, but in the end who really knows what makes share prices do what they do in the short-term? What is known is that over the medium- to longer-term they track the fundamental performance of the business.