The ORS chart looks really bad as buyers have dried up. The company knows the share price is pinned just under 10c. They're fully aware and they're working to provide value to investors.
Are we going to see investors buy up ORS at anything under 10c?
I know that it's tax loss selling season however why would you sell out of a potential growth stock when you've lost at least a third, or even half, of your original capital...just to offset capital gains? Very few gains around unless you're in SEEK, WEBJET, DOMINOS, THE BIG BANKS, etc. and tell me if these stocks are not the most over priced stocks in the market?
In Sydney Morning Herald today, NAB Private Wealth investment strategist Nick Ryder says "People do tend to be momentum investors - buying things that are doing well and selling things that have fallen - and we try to discourage that mentality to actually have a counter-cyclical view, to buy things that have fallen and to sell things that have run hard."
ORS Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
