A heap of margin calls being hit on the way down no doubt.
Last profit announcement did not impress the market and yet they have all the tools?
Momentum is with the sellers - a very powerful thing. Keeps closing on lows. Bloated MC based on a divvy which looks harder to keep when your competitor is about to offer free mobile calls in Canberra.
Macro - wages aren't rising. People are shopping at Aldi, not Woolworths. People want the cheapest deal and Telstra don't offer it. 18-29 year olds have little money and use messaging apps to contact each other. No email, no fixed line calls, no sms, no phone call.
Perhaps some of these are the "concrete reasons" you maybe searching for.
Would you buy at the moment?
Above is my opinion only and not intended as financial advice.
A heap of margin calls being hit on the way down no doubt. Last...
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Last
$3.55 |
Change
0.020(0.57%) |
Mkt cap ! $41.01B | |||
| Open | High | Low | Value | Volume |
| $3.54 | $3.56 | $3.52 | $120.9M | 34.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 282388 | $3.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.56 | 889158 | 29 |
View Market Depth
| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$3.55 |
Change
0.020 ( 0.82 %) |
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| Open | High | Low | Volume | ||
| $3.54 | $3.56 | $3.52 | 12503081 | ||
| Last updated 16.00pm 06/06/2024 ? | |||||
| TLS (ASX) Chart |