It did cause it to drop on the day, but it looks like it was a one off hit. There is also a second class action being considered (by Slater and Gordon) about the same issue. Both cases are just being considered, the S&G is about 6months old, im not convinced either will go ahead, or that they will succeed if they do, but it is a risk, and that risk is doing the biggest damage IMO.
I have bought in a few times at 0.97, and i hope to keep them for the dividends for many years. I have some others which i paid more for that i will offload when the time is right though.
I expect the mid year results will have a bigger influence, the share price looks to have very good long term support at $0.90 which limits potential losses (but just my opinion), and shorters are still reducing which means that those betting against us are giving up. Its hard to see how the mid year results could be worse than last years, so this result should look good at least in comparison. There is also a bit more vision creeping into the company with talk of a new focus on "tilting" the focus of the company towards smarter solutions, which i expect we will hear about in the mid year report.
I think now is a good time to get in (wish i had have waited).
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