I sold out of CBA a long time on account of it being overpriced (at a price I’m now embarrassed to mention)
It has continued on relentlessly for a number of years now despite being a unanimous ‘strong sell’ throughout the broking community.
I can only put it down to the proliferation of ETFs over the past 5 -10 years …..many wanting/needing to hold the nations biggest and best bank at whatever price.
There’s also a theory that there is an army of ‘never sell’ mum and dad investors (many from the original float and now carrying a massive CGT obligation if they liquidate) that tighten up the supply of stock.
The metrics on this stock don’t make much sense beyond $120 but barring a massive market crash it’s hard to see what sort of event would shake it down to anywhere near that.
Well done to all the long term faithful !
CBA Price at posting:
$187.58 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)