It got to $160 because it's the only game in town. CBA is 10% of the ASX. All that Super money has to go into this stock as the majority of contributors choose the default option which defines a hefty % of their investable cash as being marked for ASX200 blue chips. Same reason the S&P and NASDAQ are going up way past their actual value: passive buying.
CBA Price at posting:
$150.26 Sentiment: Sell Disclosure: Not Held
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