No doubt it's institutional buying. Retail doesn't move large company share prices that much.
it's been announced on national media that electricity prices are going up by 20% across the board in July. How much is that worth to AGL? $700m, $800m? How much generation is internally sourced? 100% or close to that, and how much increased input cost to their generators? I'm guessing maybe $200m.
There's a whopping big increase in profits coming in the not too distant future in my opinion. Well, I certainly hope so as this now one of my biggest ever holdings over the past 20 years.
AGL Price at posting:
$7.41 Sentiment: Buy Disclosure: Held
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