The share price isn't the company. No one is disputing CBA is a quality company. However, the share price lives in a different world. People shorting CBA are betting against the share price, not the company. No one thinks CBA is Enron, we just think it's horribly overvalued relative to other investments in the marketplace. If CBA were to delist from Australia and trade on the US stock exchange, it would lose about 50% of its market cap as CBA is 29 times earnings, and JP Morgan is 14 times earnings. Why do we value CBA double the price of JP Morgan? - franking credits give an artificial value. But double the price? Its trading higher than Google and Meta. It makes no sense.
CBA Price at posting:
$165.28 Sentiment: Sell Disclosure: Not Held
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