Have Aristocrat been carrying out their buybacks at these levels or are they on holidays too?. Because if they're buying back at $34 and not at $30, then someone needs to ask the question.
Right then...share prices do not move in a linear pattern every day or every year. Do yourself a favour and look at the 10 year chart and you'll see decent pullbacks in 2016, 2017, 2018, 2020 (Covid) and now 2022.
The pullback in 2016 saw the SP fall to $13. 2017 SP saw the SP fall to $19. 2018 the SP fell to $20. 2020 the SP fell to $17. 2022 we're at $30.
So the SP more than doubled in the six years from 2016. That's the rule of 72 right there. Maybe in 5 years time, we'll be bitching that the SP has slumped to $60. I can't see the future, but when I look at the long term chart of Aristocrat Leisure, I see a clear trend of the share price going bottom left, top right.
If I were a short term investor, I'd be concerned. If I were a true long term investor, I'd be looking at the long term climate and not the daily weather.
Merry Christmas.
ALL Price at posting:
$30.75 Sentiment: Buy Disclosure: Held
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