people seem to be blaming the buyback for the drop. the drop is because of the profit margins and high expenditure. everyone gains from the buhback because it takes $3b of shards out at a 8-14% discount and the share price crash makss it even more effective
if you sell into the buyback you can just buy the shares back and pocket the credits and cap gains loss. win win win.
of course, this only applies to people buying today. people who held wbc before yesterday (like me - 600 shares before and bought 200 more at 24.34 yesterday for the buyback) are clearly going to be upset
Ann: Westpac announces $3.5 billion off-market share buy-back, page-154
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Last
$27.82 |
Change
0.140(0.51%) |
Mkt cap ! $96.23B | |||
| Open | High | Low | Value | Volume |
| $27.74 | $28.06 | $27.51 | $162.4M | 5.845M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10517 | $27.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $27.85 | 33 | 1 |
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| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| WBC (ASX) Chart |