$6 is good value for me. My math may be blurry on a Friday arvo
Anyhow, we're not talking about timeframes where fundamentals come into the picture. It's all about capitulation selling, stop losses getting hit etc. You wouldn't have 15% in an hour if that eventuated in a worse manner than what we saw.
BTW, there is a real possibility that earnings will be flat. In that case, even a P/E of 13 looks somewhat rich.
Management were out slightly in an unpredictable situation, page-12
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