I am philosophical today, and will answer your "why" question (tongue in cheek, of course):
- The market has re-rated the stock (senseless answer - but given quite often
- The outlook has changed; what exactly and to what degree is debatable. Others in this thread and myself have tried to come up with some aspects.
- More sellers than buyers (senseless as well, as it doesn't give you any information regarding the future, maybe one day there will be more buyers than sellers)
- Retail holders have 'weak hands' (senseless, but of course they have)
- Profit taking (senseless, because it doesn't say when that activity stops)
- There is more conviction on the seller side (not just numbers) than on the buyer side
But seriously:
- Sentiment turned on this stock (APRA interference, spectre of higher interest rates, cooling of house prices forecast for FY 23 and 24, pressure on NIMs, fierce competition between providers etc.)
- Flat outlook (although on juicy levels in terms of value.)
- If one is guided by financials only (that are historic by nature), it is akin to driving forward with a firm view into the rear mirror.
- Looking forward, RMC has some interesting advantages, notably:
- cost to income ratio
- approval times
- flexible rate exposure
- flexibility to react to market changes
... running out of explanations.
BTW, I am positive on this stock, and just put a buy order in. If I get filled, I will change my sentiment to hold.
GLTAH
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Last
87.5¢ |
Change
0.010(1.16%) |
Mkt cap ! $350M |
Open | High | Low | Value | Volume |
87.0¢ | 87.5¢ | 87.0¢ | $2.769K | 3.182K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 11887 | 87.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
88.0¢ | 5000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11887 | 0.870 |
1 | 3000 | 0.855 |
1 | 3520 | 0.850 |
1 | 21000 | 0.830 |
1 | 23855 | 0.825 |
Price($) | Vol. | No. |
---|---|---|
0.880 | 5000 | 1 |
0.885 | 14161 | 1 |
0.890 | 1479 | 1 |
0.915 | 8000 | 1 |
0.920 | 14383 | 2 |
Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
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