Today just delayed the inevitable30 Sep 2020 19:03
So the results were better than expected and the price fell, but this could just be delaying the inevitable:
Many people bought in at 210 or at least the 200s and this has been the day they've been holding out for. They've been well rewarded in return and sold at a healthy profit today, but that counteracted all those people looking to buy as a result of the strong financials. Now those sellers have hopefully gone, it means anyone else who wishes to buy will need to pry the shares off those of us who aren't so keen to sell.
I had a similar situation on a smaller scale with NEX. After a heavy fall they announced a strong financial update out of the blue last week and the price rose because the update was unexpected, however the next day it fell about 3% as people took their profits from the previous rise. The day after it rose even more than it did on the first day. That second day was just delaying it.
I really feel the positive impact of this update is just delayed, this is a company that's growing in a climate where most things are declining. I'm not saying this to ramp and it's partially in hope, but I bought more today at 385 as I'm convinced there's still a lot of value in this company yet and immediate gains to be had as ii's try to buy back in