Sorry to see your CGC earnings guidance. It is always painful when this happens but that is the price we have to pay for the higher returns equities provide. I am yet to find a reason for the moderate fall in the GUD price. Ironically enough I bought a decent chunk of GUD in the $11.30s yesterday morning and gave myself a pat on the back for acquiring something I thought was well priced. This reminds me why I am not a day trader.
There have been no updates from GUD and similar companies such as BAP have not been impacted by a similar fall. My guess would be a broker downgrade. I still can't understand why everyone rushes to the exit on a broker downgrade, as past empirical would suggest brokers are no more able to pick share price movements than the market as a whole. I actually think there may be some market inefficiencies around broker sell/buy calls and trading against these calls could produce market beating returns.
Curious to hear if any other posters know of the reason behind the 10% odd fall on no news?
Ann: Becoming a substantial holder, page-3
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Last
$10.53 |
Change
-0.180(1.68%) |
Mkt cap ! $1.483B | |||
| Open | High | Low | Value | Volume |
| $10.55 | $10.65 | $10.51 | $1.607M | 152.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1 | $10.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.59 | 947 | 4 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$10.55 |
Change
-0.180 ( 1.45 %) |
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| Open | High | Low | Volume | ||
| $10.59 | $10.65 | $10.52 | 21817 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| GUD (ASX) Chart |