Been Trading AMP for short term trade and have rewarded me well. I believed, worse for AMP was over last year and if it wasn't pandemic, AMP would have done much better.
Bought back about 50K shares during this recent sell down.
HY results and Management efforts reflects the grat outcomes in such difficult circumstances.
HY profit $203m Vs $2.2B Loss Committed for $300m Annual Cost Savings Special Dividend 10c/shares back to shareholders $200m Share buy back Agreement to purchase MUTB's 15% shareholding in AMP capital Client Remediation on track to complete 80% by end of FY $500m Equity Interest in Resolutions Life NOHC
Conclusion: Worse if over for AMP. From here only cost saving, restructuring, increased profit..... Highly Undervalued compare to recent Hype in Some FinTech companies who are yet to generate a single $$ profit and yet trading twice or multiple of AMP MC. Technically it could move back up over $1.60-$1.80 in next few months time along with 10c special divident.
AMP Price at posting:
$1.38 Sentiment: Hold Disclosure: Held
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