I have been watching it closely and thought it was a bit overdone especially on a p/e basis where even just a slowing down of growth would hit the SP.
In the absence of some downgrades by brokers which I can't see anywhere and given it's been such a drop i'd be guessing there is some bad news lurking someplace - where there's smoke.... I can't believe its just a change in sentiment on the stock.
And I don't think it has anything to do with the cost of visas. The rocketing of the SP has been driven by the high AUD and people buying overseas (and getting more comfortable booking via the net at a discount and convenience factor as opposed to going into a travel agent).
RMD did this about 6 or so months ago (different stock, different industry etc). Growth slowed down in one quarter or so and the stock got hammered given how sensitive the market it is. It went down to ~2.50 and now they pout out 2 solid growth numbers back to back and they are nudging $4.
I'll see what I can find about this drop in SP. Its down about 25% so it will get on the radar soon. I almost bought at $4 on Friday so I'm very happy I didn't.
WEB Price at posting:
$3.73 Sentiment: None Disclosure: Not Held
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