Q: Follow-up to my earlier question about any news for the drop today. You indicated no news. I was hoping for more than this. Can you provide some thoughts on why it's down? I don't think its profit taking as the stock hasn't been a great performer recently.
5i Research Answer:
The problem here is that we could come up with 20 different reasons, none of which could possibly be confirmed. It is not really a constructive exercise and not overly helpful. It may be a delay from Monday's selling, worry about earnings, worry about rates, worry about management, sector rotation, short selling, undue worry about tariffs, a peer company could have done something we didn't catch, a fund could have changed managers and the new manager could be exiting a position. But the buyers are there, and we could give a dozen reasons also why they are buying. Honestly, it is better to utilize time on facts over speculation.