Buy the rumours, sell the news.
The anticipation of Zip exceeding expectations have been met. Since the trade worked out, sell the news and realise the 25% profit from the past couple of weeks. This behaviour is fairly common, especially in Zip being the most traded stocks on ASX.
Not too much new information in the update, everyone knew they were going to post good results which means that's been priced into the share price. If nothing new is presented to investors, the share price will drop because of profit taking.
The real question to ask is what is the intrinsic value based on the quarterly updates. If you think it's higher than $7.58, well an opportunity for you to make a profit just presented itself... assuming you are right.
Ann: Quarterly Update, page-209
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 (20min delay)
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Last
$1.82 |
Change
0.075(4.30%) |
Mkt cap ! $2.050B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.82 | $1.72 | $39.81M | 22.44M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $1.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.82 | 126671 | 13 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |