The US market dropped overnight and as is normally the case the Aussie market follows (not always, but more often than not). Add in the tax fy end selling and a lot of stocks retreat on no news and even sometimes on perhaps positive news.
One company locked in hedging for some of their next 3 year production at good pricing very recently and yet the SP retreated - whether it's due to market reaction to it or additional factors as above, one can never tell for sure.
The pull back in many stocks may be short lived, particularly with upcoming quarterly results and/or announcements. Surely management at RNU are chipping away to reach the next milestone and we'll be informed in due course. Meanwhile SP does what it normally does.
Perhaps the best thing to do for now is to ignore the down SP movement - unless of course one cares to top up at lower pricing. I did top up a few days back in the 8's - done for now but despite the fall, look forward to unlocking fundamental value and subsequent chart reaction.
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