Many of the REIT's all started struggling around the 21st of December. This isn't a GMG specific phenomenon. Take a look at CHC (as an example).
Global investors and markets are reacting to signals from the fed that rates will rise and artificial stimulus will be turned off (bond buying will stop).
Guess what happens when bond buying stops - it increases the relative attractiveness of bonds due to increasing bond yields, especially for super and pension funds looking for relatively low risk returns. My guess is that GMG (in particular) has been attracting a lot of this capital over the past 1-2 years.
GMG, page-9
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Last
$34.58 |
Change
-1.860(5.10%) |
Mkt cap ! $65.67B | |||
| Open | High | Low | Value | Volume |
| $35.55 | $35.66 | $34.58 | $121.7M | 3.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 660 | $34.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.73 | 660 | 4 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| GMG (ASX) Chart |