This Government intervention is clearly extremely bad news for WBC, absolutely horrendous for them unless the Government resolves it.
I think there needs to be a Government direction for the banking to suspend all loan repayments for 6 months in Australia, as they have made a direction for landlords to suspend all rent charges for six months.
If not, bank shares like WBC especially could absolutely go to the floor and be worth nothing as properties especially investment properties in Australia become close to next to worthless.
WBC might fall further than $14, no confidence in Australian property could decimate the reason for WBC's existence in Sydney, Melbourne, St George and Adelaide not to mention the little they have in Perth and Queensland, Tasmania.
Property in Australia is now a money pit unless landlords are compensated in full for any rental arrears. WBC might become a Government plaything.
Change sentiment to hold pending the outcome.
WBC Price at posting:
$14.89 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)