"Why would ARB drop 10% with the discovery of the Pfizer cure?"
Because the thing that made the stock double in value over the past 6 months, namely the risk-free investment return - which feeds into the discount rate for ARB's future cash flow stream - is likely to revert to some semblance of "normal" if indeed the Covid code has been cracked.
Meaning that future cash flow stream will be worth less in current money terms.
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ARB, page-3
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Last
$37.99 |
Change
-0.655(1.70%) |
Mkt cap ! $3.127B | |||
| Open | High | Low | Value | Volume |
| $38.35 | $38.72 | $37.68 | $3.676M | 96.39K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 86 | $37.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.00 | 1686 | 9 |
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| Last trade - 14.31pm 19/06/2024 (20 minute delay) ? |
| ARB (ASX) Chart |