Absolutely spot on (I am afraid to say!). Then there is the added ill-conceived mentality by many that there will be a further 25% dillution in shares, due to 400m possibly getting authorised.
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ssoo1 - 20 Dec'06 - 11:41 - 38569 of 38571
We're in the same situation as before the NICE announcement - the whole market knows there is an announcement on the way and everybody is in with the intention of selling on the spike following the announcement. We've all seen this before where the actual announcement results in a short spike with a big sell-off then driving the SP down, mostly to lower levels than before the announcement.
The problem we have now (which we didn't have pre-NICE) is that the SP hasn't moved and sits at 1.40 - 1.50.
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