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...perhaps it was related to the profit warning a couple weeks ago...just guessing...
people have taken profits on the way back up from 100 and the stock has been trending down for past week.
having stalled at 117-120, it will only take news/another trading update to positively push this stock through that price. people must remember that the growth story priced into this stock is currently at risk & the management have lost a lot of trust and need to regain it.
I am not being unduly negative, just honest as I see it. I am also an owner. The disregard for the truth that this is a risky small cap stock that has just issued a profits warning does just annoy me.
This is the important test for me as mentioned earlier. Breaking it should take it back on a run up to 115/120. I am back in at 107 - this clearly has good support at these levels and we all know about the upside potential..
Mr Pazzuz11, I understand it has been a stressful couple of days - am only here for the discussion & I didn't mean to get you so worked up, was simply rewording your post earlier in the month.. 'Yeah but why I wonder, people in the know perhaps dumping a ******* tonne today. What don't we know. Probably a lot as Ory can't be ****ed to tell any pi anything useful.'
I really think there could be something wrong that we can't see here. The big trades are the in-the-know institutions piling out. I am not saying this to be unhelpful, rather just to present the other argument to what is an obvious bullish case. For it to be trading on such a low multiple of cash at the bank, and a very low multiple of even the revised earnings is both worrying and incredibly enticing. You would have thought the 40% drop would snap back at least to 120-130p, but people seem ready to take this case. I, for one, couldn't afford the potential slide to 80p but am an interested spectator wishing you folks good luck on this one as would like to see it turn back.
it is remarkable to think that this has shed almost 40% of it's value on back of that rns. it shows either how deeply p*ssed off the 198 brigade are, or signs of more fundamental problems. i don't think Ory's purchases show anything as he has proved this year to be misleading already. i'm out guys, but wish you all best of luck. fingers crossed all OK, in which case this 35% drop is way too far.
unfortunately (as a shareholder) i don't see any recovery coming soon. they have a long way to go to rebuild the trust having raised from some of their most important investors at 198p. as everyone has pointed out here, they have misguided on earnings and would obviously have known when they raised those funds that a few months later this would be the case. i expect the selling to last a significant amount of time and for institutional investors to steer clear of these guys from now on.... selling this morning, too late as my loss aversion bias hurts me again