Its end of month! - today's selling is just a fund manager/ trader (presumably the DRP sub underwriter) that wants to avoid the embarassment of having VTG on his books when his/her holdings are reported.
The more substantive longer term problem is that the market, quite properly, does not regard the NIMA investments as an appropriate strategy and there is a derating of the valuation every single time they announce they are doing something more in the space. Each time there is an announcement relating to NIMA, VTG's market cap falls by more than the amount they announce they are spending on it so essentially the market regards it as worse than worthless.
Nothing wrong with receiving the $40m p.a. EBITDA from the Telstra retail business; those earnings should just be returned to shareholders in their entirety and then we choose how we want to use it to diversify ourselves.
VTG Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
