The stock has traded for a whopping 20 minutes since the earnings update, so I think the statement that "long term holders bailing out" is ludicrous.
If anything it's likely a few momentum traders that joined on for the ride and had not completely liquidated their positions yet. They likely don't even know what business function SDI provides. Again 377k shares traded...hardly ground breaking.
Long term holders will be taking a far more rational approach than to cull their investment after an announcement that has basically reaffirmed guidance with the provisio that investment in sales and marketing has exagerated the 1H-2H skew. If this announcement causes long term holders to bail, then I would suggest their investment thesis in the company is quite misplaced.
My devil's advocate view is that many-a-company has been talking up a big 2H to make up for a crappy 1H this year. I suspect that many are just hoping that results will improve and will be found lacking come FY results time.
News: SDI SDI reaffirms sales guidance for FY17, page-24
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Last
$1.11 |
Change
0.000(0.00%) |
Mkt cap ! $111.1M | |||
| Open | High | Low | Value | Volume |
| $1.11 | $1.11 | $1.11 | $11.45K | 10.36K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 818 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 7231 | 1 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| SDI (ASX) Chart |
