Is it not possible that ALL will not recover in the short-term and will underperform longer-term? It was a favourite with analysts and investors in the booming sharemarket of the late 1990s and reached around $20 before a split. It was all based on growth. It has however been trending down for several years and the institutions were probably just looking for a reason to dump it. Institutional interest may take a long time to rebuild.
Sure it is a major player but like all stocks its shareprice is not just dependent on p/e ratios - its also dependent on analysts' perceptions/confidence and future earnings expectations. The latter both look shot at the moment.
I think the adage is something like "don't buy a stock that used to be a good performer just because it is now cheap".
Cheers
H
all/ chart, page-4
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Last
$54.03 |
Change
-0.340(0.63%) |
Mkt cap ! $34.23B | |||
| Open | High | Low | Value | Volume |
| $54.40 | $54.64 | $53.89 | $11.85M | 218.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 1207 | $54.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $54.05 | 155 | 11 |
View Market Depth
| Last trade - 12.22pm 05/09/2024 (20 minute delay) ? |
| ALL (ASX) Chart |