I have previously experienced downdrafts like this, particularly...

I have previously experienced downdrafts like this, particularly with volatile stock (count WEC in that group), in advance of financial reporting deadlines.

Just a guess, but I think these events are caused by expectations or sometimes informal expert chatter, rarely advance knowledge (I hope). As the stock falls, technical triggers and skittish shareholders amplify the downdraft effect with more selling. Buyers stop buying to avoid catching the falling knife, which creates more free fall.

So, is today's market accurate here? I read the quarterly report, which was apparently released after today's ASX closing. It looks surprisingly positive to my mind. Developments in Africa look promising and fairly advanced. WEC will also introduce a more productive version of its technology in a few months. Also notice that cash reserves are not being gobbled up ($144m vs $150m in December), a concern of many shareholders, I suspect. Most of the downside stuff we already knew about (Bayan litigation, delays in US due to EPA).

It will be interesting to see what happens to WEC's SP tomorrow, Wednesday, and onward!

As always, please do your own research (and correct any of my misreadings).