Info regarding AMP starting to trickle in now. With guidance being removed under the guise of COVID 19 the board now has a carte blanche to do whatever they want and just blame the virus.
Many of AMP's problems stem from their wealth management department. On paper, this looks like a hot mess but the AMP product suite is not really embraced by the larger "non-aligned" financial planning community. This creates a big problem for AMP because they will struggle to survive without new business sales. COVID 19 has provided the perfect cover for AMP to simply blame their falling sales, reducing AUM and declining revenues on COVID 19 without the need to acknowledge deeper problems within the business.
Management and directors are currently being paid well above the market for their services with De Ferrari recently receiving a massive increase in salary in a year when AMP posted a loss of $2.5B! Are management just stripping out what they can? Time will tell but I cannot see this company being worth more than $0.50 by year-end.
Don't believe me? See my previous posts on this company.
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Last
$1.49 |
Change
0.025(1.71%) |
Mkt cap ! $3.772B | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.49 | $1.45 | $4.590M | 3.110M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 138494 | $1.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.49 | 68631 | 24 |
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| Last trade - 15.40pm 14/07/2025 (20 minute delay) ? |
| AMP (ASX) Chart |