You've got to ask yourself - given the company reported yesterday, what is going to stop this from falling from .26 to .20? Yes it's only 6 cents, but it's 23% of your capital torched. Given the RC hearings are going to happen soon, that counsel assisting have shown themselves to be ruthless when examining witnesses, that ASIC will announce the specifics of the restrictions and that ASIC / RC have now got the recordings of calls from the industry to playback in public forums (that will likely form the basis for horrendous stories about pressure selling and calls for changes) what is going to stop the fall?
Oh and Forager could exit. They're on the record as saying that the first loss is the best one and to not hesitate to book a loss when the circumstances change. Broad based regulatory intervention sounds like a circumstance chagne to me.
FIG Price at posting:
25.5¢ Sentiment: Sell Disclosure: Not Held
