Discussing stocks is a fascinating pastime. Most, me included at times, look to attribute a SP to a company's bad/good news. I think there is an element of fundamental repricing but that tends to be in the first few days of heavy falls the 40-50% type falls in response to the macro/micro events.
We then get into the psychological tussle between institutions and those who wish to take them on. Fundamentals are parked and it is now all about creating market illusions. Investors will undoubtedly feel there is value in MMA so institutions give reason to believe it has turned and increase demand. Then at their predetermined point they reverse and sell panicking all and sundry that got it wrong. The old pump and dump. That 'nothing to do with the company' cycle will continue until there is something to break the circuit.
Of course if it is a genuine poor quality company, where even the bravest supporter can see extreme high risk, he above goes out the window and it is all fundamental trading down to oblivion. While a company is earning underlying profits it is not poor quality in my book. Not so simple as that though it is the future that matters - therein lies the skill of an investor.
Asteroider has got institution fear/exuberance-trading strategies off to a tee, I give him/her credit there.
MRM Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
(20min delay)