Its just the old saying, buy on rumour, sell on fact. Well the facts are out there and there was a lot of buying beforehand on speculation...infact this is one company on the ASX that half of Perth knew the results (or implied results) for before they were announced! Not sure how they manage their information, maybe via megaphone LOL.
. Profit takers and day traders who have had their cash tied up having a field day.
Hopefully it wont last long and will bounce back. Its still good results none the less, and perhaps a stern reminder to management that they might want to keep the results tightly under wraps before releasing next time to gain some positive sentiment from the market immediately after.
PDY Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
