Probably, the biggest reason why there is some excessive...

Probably, the biggest reason why there is some excessive downward pressure is from the increasing likelihood of OFX being removed from the ASX200 in the upcoming quarterly rebalancing. It is the lowest market cap by more than 100m, however, it's still traded fairly decently being only 10-20th last.

However, at the core, you still have a debt-free business, with strong earnings to cash flow, a history of growth, a strong dividend yield and healthy balance sheet. Maybe I'm reading into it a little too much, however stja quoted Richard as saying they had consulted various sources and came to the conclusion that nothing material had to be announced to the exchange. My question would be, why would they have to consult various sources in the first place?

There are short term opportunities on the sell side, with the natural selling flow from index tracking funds if OFX is to exit the ASX200. They will make money as seen currently with the large downtick. There is also good opportunities for the long side investors provided they are patient, just remember nothing has changed between when the stock was trading at 2.40 and today apart from the company secretary having left.