such is the price of failure in the eyes of australian investors I suspect.
no small investors know how to put a realistic value on the stock, so all they can do is buy on promise, when the promises are not fulfilled this is the result, a constant steady decline, until the price gets to a ridiculously low level (Of course the opposite is also true, that the price can go to ridiculously high levels, and has).
maybe someone large has decided to unload and is maintaining downward pressure, but i suspect it is smaller mums and dads selling.
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