Originally Posted by
skid
I remember putting a post not so long ago saying I didnt think it would hold above $3--To be fair,looking at where we are now,I personally think it may be time to take a good look around. Management deserves a good slap for handling the selling so badly,but realistically ,this kind of carnage is more common to a major profit downgrade (not the small change that was predicted)or some disastrous court battle or calamity.
New Zealand is a country of polarization in many areas.
Im going to go out on a limb here and guess that given a bit of time(2-3 weeks?) this is going to start to blow over and fundamentals are going to start to build the SP again. I reckon the $3 ship has sailed for a good while and those that got in at $2.70 are going to have to wait a good while,but my GUESS is that those who jumped in ,in the lower $2 range will regain their investment.
--Since many have ventured guesses ,thought I might as well throw mine in.
Of course the smartest are those who wait for the upturn to establish itself and if things go to plan they could be in for a good time.
Most likely going for some sort of punishment for whats happened will be a long shot and more than likely will prolong the hinderance of a recovery---IMO.....Good ole cyclicals and market behaviour:p