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More detailed info on my view of Jardine Cycle & Carriage can be seen here: Jardine C&C: Possible Opportunity for Dividends (written when it was at around $33)
Not sure why the share keeps to continue its plunge (maybe some one more knowlegeble can add some info here) but the only short-term catalyst seems to be the rights issue, but currently, the price of the share is approaching that of the rights and has continued to fall at a quick pace even after the ex-rights date. So this reason alone doesn't seem to ......Just wanted to highlight to you that Jardine Cycle & Carriage is continuing its slide down, reaching below $30 per share today. Though this is still a quite expensive stock (min $3000 investment is not something all of us can just make), but as it falls it seems to keep on getting more attractive.