Can anyone rationally explain why the price has dropped from...

Can anyone rationally explain why the price has dropped from yesterday's closing price? I can understand if you are betting on a dismissal of the application you may try and beat the news from the courtroom and buy in. However, accepting that nothing has changed in terms of company fundamentals why the price drop? Is this just shorters forcing the price down? Does the market think that everything in the law is immediate? This application is a big deal for the company, mkae no mistake about it.

Did it go down because the applicant can get more material to answer Lynas's material, making it a more even contest??? The drop is sheer madness in my eyes.

As is the signature on one poster's comments, 'The market can stay irrational longer than you can stay solvent.' Never a truer word spoken!!!

I have said it before and I'll say it again, it will take time and money but in my view ultimately the company will get there. Traders of course have a shorter term view about price movements.

PS Can anyone give any references as to the claim the injunction is limited to 'new steps' and not the TOL itself. For if it were limited to 'new steps' why is the company contesting the application and not waiting to the substantive applications? Can anyone proffer any ideas as to what new steps the company would wish to make if it extends only to 'new steps'. With thanks