This is the chart that does it for me. Since 2005 CBA has risen 400%, 200% of the gains occurring in the past 12 months, but the first 200% taking 18 years.
What did the market get wrong from 2005-2023 pricing CBA at such a big discount for two decades? Or, is this rally one the biggest speculative bubbles in Australian stock market history, and the 100 billion in market cap added to CBA in the past 12 months, is all hot air. What the more reliable data set, 18 years, or 1 year?
I remember the lithium boom a few years ago, it looked unstoppable...............until it wasn't. Pilbara and others are trading at 50% discounts to the highs.
CBA will also have its 'until it wasn't' story. Just look at the hart below - its ridiculous on a scale of monumental proportions.
CBA Price at posting:
$156.21 Sentiment: Sell Disclosure: Not Held
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