You've asked a good question phantontrader. It's hard to give a specific reason considering there are so many variables in play. Fundamentally the general aspects of PZC are very positive, (unless of course we are being played for fools by management, but that seems a little unlikely IMO) After speaking with a few fellow holders I know, you're spot on with some end of financial year dumping. A couple of my mates were more than happy to lock in a loss specifically for tax purposes but have since bought back in. That in some ways explains the sell down toppled off with the general market sentiment plus lack of buying to keep the s/p propped. Obviously due to lack of liquidity those hoping to lock in a paper loss have struggled to do so squeezing the s/p well down to ridiculous levels. Maybe a few stop losses were triggered along the way with a few panic merchants? Either way, it seems like we're having to play the waiting game a little longer than expected. No need to stress, the buying will be back in due time. If anything it's a good time to take advantage if you can spare the capital.
PZC Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
