A few reasons as to why there has been a sold down on NSL
*The ASX dropped 4.something percent while NSL was in suspension. People with margin calls during that time had $$$ tied up in NSL and were holding good profits. Instructions were to sell on open.
*Buy on rumour, sell on fact.
*Accumulators pushing down price with small sell orders. (someone may be able to tell me if true or not)
*No point buyers stepping in until a bottom has been found.
*Newbies buying on hype after recomendations from taxi drivers etc... panic selling after price drop.
*General confusion on the announcement. It can be read both positive and negative.
*I notice that none of the long termers have sold. These are the people that have done their DD and research. That in itself must say something.
Yes it's a concern, but am I worried.....no.
Today is the first day of a new IO powerhouse in India.
As always DYOR and IMHO
*I hope this passes mod's scrutiny, I have tried to be as realistic as possible, but please remember I am bullish and my post should be able to reflect my sentiment.*
Cheers,
NSL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held