"Why would ARB drop 10% with the discovery of the Pfizer cure?"
Because the thing that made the stock double in value over the past 6 months, namely the risk-free investment return - which feeds into the discount rate for ARB's future cash flow stream - is likely to revert to some semblance of "normal" if indeed the Covid code has been cracked.
Meaning that future cash flow stream will be worth less in current money terms.
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"Why would ARB drop 10% with the discovery of the Pfizer cure?"...
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$37.63 |
Change
-0.100(0.27%) |
Mkt cap ! $3.098B | |||
| Open | High | Low | Value | Volume |
| $38.05 | $38.35 | $37.59 | $5.088M | 134.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 273 | $37.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.77 | 167 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ARB (ASX) Chart |