It "should" but that's simply not how markets work.
High P/E stocks are market darlings whose share prices have weathered the storm better than their peers.
Woolworths has a high P/E because as I keep point out, its not a defensive stock, its a growth stock that's a defensive company.
Retailers don't grow profits 24% a year and expect double digits year after year, hence why the high P/E for Woolworths.
If it were up to me Woolworths would still be $16 to $18 of it came down to the All Ords average P/E.
what a retailer, page-5
Add WOW (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$34.17 |
Change
-0.130(0.38%) |
Mkt cap ! $41.74B | |||
| Open | High | Low | Value | Volume |
| $34.33 | $34.69 | $34.07 | $77.40M | 2.258M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2923 | $34.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.19 | 4889 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| WOW (ASX) Chart |