The dividend yield at the peak $138 was around 3.3%. With only limited growth expectations in its earnings, it was always likely you would see a big intraday sell off and these prices - likely to be another one tomorrow.
Sometimes you are wrong before you are right. Example, some said Tesla at $300 is overvalued, it then goes to $400, but then falls to $200.
People who said sell CBA at $120, may look foolish right now...... but give it 2 months.
CBA Price at posting:
$132.46 Sentiment: Sell Disclosure: Not Held
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