Despite talk about bots and aliens or whatever manipulating the share price, the real reason for the sell-off may have more to do with Canberra, where real political and economic power lies.
Two things of note happened in Canberra today, both of which seem to have impacted the sector rather than just THX alone.
Prime Minister Gillard reiterated labor's strong traditional opposition to nuclear power, and warned that those arguing for its consideration in Australia's future energy mix faced a "tough argument". "The Labor Party has got a very clear policy here and its a really long standing policy of opposition to nuclear power,"
That was a pretty clear statement of government policy, and we need to fully understand it.
The other thing was a paper authored by a Uni NSW academic given at a solar energy conference in Canberra today, that argued that by 2020 solar energy, windfarms and other forms of renewable energy will be cheaper than nuclear energy. Again this was in Canberra where representatives of the Government were in attendance.
I hope that information was somewhat useful, and helped to put things in perspective.
Cheers R
THX Price at posting:
52.6¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)