I think you are right. The trading range definitely can go between $1.00 and $1.20. The big problem is that after ripping out life and funds there isn't much left to leverage for growth. The adviser class action could be a seminal moment that sees AMP get a lift if they win but the opposite is true if they lose. The other issue is that what sort of adviser would stay with AMP?
Basically from now on AMP is a dollar stock that still has a a few major issues to clean up before they can try to grow again. This stock will struggle to get up to over $1.20 over the next 5 years which leaves all of the long term holders down around 80%. The poor shareholders pretty much have nothing to show for the sale of AMP assets. They did a massive share buy back and the share price is now only at 1.06!
Should be a first strike against the board this year and we will see if that sharpens them up a bit.
If advisers win the class action this is headed to $0.70 - $0.80 in my opinion.
I think you are right. The trading range definitely can go...
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Last
$1.07 |
Change
-0.010(0.93%) |
Mkt cap ! $2.867B | |||
| Open | High | Low | Value | Volume |
| $1.08 | $1.09 | $1.06 | $11.65M | 10.92M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 57831 | $1.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 9368 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.07 |
Change
-0.010 ( 0.70 %) |
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| Open | High | Low | Volume | ||
| $1.08 | $1.08 | $1.06 | 1926509 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| AMP (ASX) Chart |