I did a bit of digging and came up with a bit of a clearer picture of why it got battered today according to some broker analysis.
1. First, the price rose on market open signalling the market was happy with at least a profit in these turbulent market conditions.
2. Retail investors began to sell off when they found that another buy back is on the agenda rather than a dividend.
3. Then, as the market began to digest the report, two factors really spooked it. This triggered a heavy sell off around 1pm AEDST. First, QAN reported it will face a significant CAPEX obligation through 2025. Secondly, QAN is focusing on its customer satisfaction, which the market takes as being a sign of concern going forward.
So, it really depends on whether you think QAN is the glass half full or half empty. Tomorrow will be interesting because it's a Friday, which is a lot more sentimental than a Monday.
Green or red close? We'll see.
For disclosure, I hold and bought a little more on the dip.
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Last
$5.88 |
Change
0.040(0.68%) |
Mkt cap ! $9.581B |
Open | High | Low | Value | Volume |
$5.87 | $5.91 | $5.84 | $75.93M | 12.91M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 127538 | $5.87 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.88 | 6836 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1307 | 5.860 |
2 | 1800 | 5.850 |
3 | 11731 | 5.830 |
1 | 10000 | 5.820 |
12 | 66833 | 5.800 |
Price($) | Vol. | No. |
---|---|---|
5.900 | 21166 | 2 |
5.910 | 7086 | 2 |
5.920 | 42102 | 7 |
5.930 | 58562 | 15 |
5.940 | 38998 | 12 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$5.88 |
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Change
0.040 ( 0.55 %) |
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Open | High | Low | Volume | ||
$5.87 | $5.91 | $5.83 | 1372112 | ||
Last updated 15.59pm 03/05/2024 ? |
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