I am one of the biggest fans of NextDC but calling BS on this article. The volumes in the 2 days post the report were huge. I believe it was 8 mil shares each day traded. A likely pitched battle between short sellers and super fund or managed fund increasing their position.
The outlook on Melbourne has changed from May last year during capital raise to reporting in February 2019. I don’t know if we have missed out on a large deal, not executed on construction properly or overestimated demand in Melbourne but that’s what forced me to get out. I can’t see massive demand outside of Sydney.
Craig has historically been very conservative but recently his comments haven’t been consistent or reflective of reality.
NXT Price at posting:
$6.32 Sentiment: Sell Disclosure: Held
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