Well and good, except that upon opening, the stock soared some, then tanked and was at one point trading at half its IPO price. Such a performance of course, did not impress investors. World Online IPOed 3 days later in Amsterdam. Even before this piece of information, World Online's IPO had stumbled badly, falling to less than half its listing price. In the light of its weak IPO performance, news of the chairwoman's divestiture prompted angry investor response.
Investors sense volatility in the market, and consequently there is heightened nervousness.
As always, nobody wants to be the person who ends up buying high and selling low. Momentum play seems to have lost some its strength and bite. Waning confidence, and the rise of its opposite half, scepticism. Capital protection is now a top priority, and company value its chief armour. You know, Old Economy stuff, like a decent business model, cash flow, margins, etc.