With no significant price-sensitive news, the decline was widely attributed to market profit-taking following a stellar 50% rise between June and October 2025.
However, the most notable use of the term in late 2025 relates to the intense volatility of shares during that period.
Despite the November pullback, analysts remained cautiously optimistic, raising price targets in late October 2025 based on robust cash EBTDA growth (up 147% in FY25).
The company struggled to break through critical resistance levels, notably around the A$3.40 mark, highlighting the struggle between bulls and bears.