It's not as if TPM is going to the dogs. By eofy 20 they will...

It's not as if TPM is going to the dogs. By eofy 20 they will have less than 15% of customers on adsl. They will experience a 110M 'headwind' loss in fy20 from reduced margin and increased wholesale broadband costs. The market knows this and price is not crashing. And after two rejections price has not hit $5. Margins are shrinking but TPM will still be profitable.

However, I can understand that it might be difficult for SP to get back to it's all time high with these factors so for those that bought then, it is not good. But, good entry now.

Also, TPM does not appear very correlated to XAO, so it is somewhat a defensive stock which is positive. People will have to be pressed to the edge to ditch their internet.