The price action this morning is a direct response to the 80c number in the announcement, and the fact that trader capital has been tied up for so long. Last look had the SP in the 70c range, which obviates the knee jerk stupidity of retail punters who've already overshot the price of the 80c 'hypothetical' conversion option.
I suspect this will bounce to some extent in the coming days. I see desparation in the exit this morning, just another badly timed binary gamble by the T3-ers (now T2-ers).
The price action this morning is a direct response to the 80c...
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