I did a bit of digging and came up with a bit of a clearer picture of why it got battered today according to some broker analysis.
1. First, the price rose on market open signalling the market was happy with at least a profit in these turbulent market conditions.
2. Retail investors began to sell off when they found that another buy back is on the agenda rather than a dividend.
3. Then, as the market began to digest the report, two factors really spooked it. This triggered a heavy sell off around 1pm AEDST. First, QAN reported it will face a significant CAPEX obligation through 2025. Secondly, QAN is focusing on its customer satisfaction, which the market takes as being a sign of concern going forward.
So, it really depends on whether you think QAN is the glass half full or half empty. Tomorrow will be interesting because it's a Friday, which is a lot more sentimental than a Monday.
Green or red close? We'll see.
For disclosure, I hold and bought a little more on the dip.
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Last
$5.97 |
Change
0.050(0.84%) |
Mkt cap ! $9.695B |
Open | High | Low | Value | Volume |
$5.95 | $5.97 | $5.92 | $3.202M | 538.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 18050 | $5.96 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.97 | 28148 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 39517 | 5.950 |
21 | 51101 | 5.940 |
22 | 65421 | 5.930 |
12 | 45861 | 5.920 |
8 | 23304 | 5.910 |
Price($) | Vol. | No. |
---|---|---|
5.960 | 6549 | 12 |
5.970 | 44421 | 24 |
5.980 | 77585 | 18 |
5.990 | 69735 | 15 |
6.000 | 134068 | 19 |
Last trade - 11.14am 25/07/2024 (20 minute delay) ? |
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