In my view, much of the known bad news was priced in when AMP was at $3.
A price drop as a result of the life sale was not new news to those who understood the business. It is being used to back up whatever story the story teller wants to sell. Ranging from it is great for AMP to it being a real loss of value. Truth is that the value had already been lost and it has now been crystalised. Only strategic question is whether crystalising loss or retaining business was right choice. But that ship has sailed.
On this basis, in my opinion, I would have to support the view that the stock has been oversold. There has possibly been a double counting for loss of value.
This does not mean that price will not drop if there is new bad news or even if there is bad news that was known being crystalised in terms of sales or compensation payments, but there must now be a greater chance of upside than before.
It is always just probabilities.
In my view, much of the known bad news was priced in when AMP...
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Last
$1.06 |
Change
0.010(0.95%) |
Mkt cap ! $2.826B | |||
| Open | High | Low | Value | Volume |
| $1.07 | $1.07 | $1.04 | $10.34M | 9.764M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 249192 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.07 | 372831 | 21 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| AMP (ASX) Chart |