Why the tumble?Contributing factors are general nervousness about market levels and the recent IDA clamp-down recommendations on margin levels. A whople string of recent high-flyers (eg, KCA, IPZ, NVO on my list)were down this morning, even while NASDAQ was up.
The widely pulicized statements of Canada's Superintendent of Financial Institutions also did not help anyone. (".. stock frenzy puts banks at risk.. " ; see today's Globe and Mail headline:all this seems weird in the same week in which the Economist has rated Canada's banks third from the top in the world. (After Netherlands and Switzerland).
Then there must be factors relating more directly to ANC. Personally, I never have much faith in "weak hands" and "someone is holding the stock down" arguments; they are raised almost every time expectations are not met. Could it be a rumour or some other report about last quarter/annual financials? The sooner we get the Annual Report, the better, I hope.