I am not implying that ARB will suffer automatically, especially given its niche. I am also not saying falling auto sales are signalling the end of the bull market, merely that it is highly correlated to falling house prices which are widely expected to decline further.
I am offering one explanation for why automative stocks have been weak. In ARB's case, it could be throwing the baby out with the bathwater (one can hope!). Given its premium valuation though, it can correct a lot more before that is even the case.
Got in on today's Dip, page-10
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Last
$40.00 |
Change
0.425(1.07%) |
Mkt cap ! $3.305B | |||
| Open | High | Low | Value | Volume |
| $40.08 | $40.45 | $39.91 | $872.3K | 21.75K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 609 | $39.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.00 | 30 | 2 |
View Market Depth
| Last trade - 12.37pm 29/07/2024 (20 minute delay) ? |
| ARB (ASX) Chart |