On a tough day for the benchmark S&P/ASX 200 (INDEXASX: XJO), data analytics business Veda Group Ltd (ASX: VED) finds itself trading in the red with the stock down 5 cents or 2.1%.
Now trading at $2.32, the shares have fallen 7.6% in just over two weeks after they peaked at $2.51.
While the recent decline in price could be attributed to the stock's strong rally between July and late September (where it jumped a remarkable 37%), investors could also be growing increasingly wary of the state of the broader market. With the ASX 200 index down 8.1% since early last month, it's fair to say that investors are spooked with many choosing to take their profits and run for the hills.
Although the stock could certainly fall further in the near-term, investors who remain patient should be rewarded in the long run. Veda Group presents as a solid, well run company with a very promising future, making its current price seem more than justifiable.
