Delta, yea fair point, as we now know the whole sector was overvalued, and maybe there is some truth to the criticism that management have been out of their depth for some time, and that wasn't fully factored into the sp.
A lot might wait for full year results before reconsidering their position so they look for more skeletons left by management, but if there is a takeover offer then management concerns will go away as there will likely be changes.
Earnings downgrade are a big deal, and management aren't doing everything right, but at the same time, i can accept that they are doing a harder job than most companies, and there is a lot going right as well. I guess the question is can we accept some mistakes from management as the price of holding a such a fast growing business.
I mentioned before decreasing shorts as a sign we are at the bottom (from sentiment pov), second day of net shorts since the downgrade and net shorts dropped from 15% to 12.94%
http://www.shortman.com.au/stock?q=voc