Is it not possible that ALL will not recover in the short-term and will underperform longer-term? It was a favourite with analysts and investors in the booming sharemarket of the late 1990s and reached around $20 before a split. It was all based on growth. It has however been trending down for several years and the institutions were probably just looking for a reason to dump it. Institutional interest may take a long time to rebuild.
Sure it is a major player but like all stocks its shareprice is not just dependent on p/e ratios - its also dependent on analysts' perceptions/confidence and future earnings expectations. The latter both look shot at the moment.
I think the adage is something like "don't buy a stock that used to be a good performer just because it is now cheap".
Cheers
H
Is it not possible that ALL will not recover in the short-term...
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Last
$54.04 |
Change
0.120(0.22%) |
Mkt cap ! $33.78B | |||
| Open | High | Low | Value | Volume |
| $53.20 | $54.06 | $53.06 | $23.01M | 428.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 111 | $54.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $54.04 | 87 | 2 |
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| ALL (ASX) Chart |