SPK was always going to retrace under $3 based on kiwi brokers trying to downramp to get some commission. SPK's SP should be about $3.40 IMHO based on yield, stats and market projections.
Telcos in NZ and Australasia generally r undervalued compared to others in offshore telco sector: for example, VZ cracked $50, VOD £2.32, BT £4.70, even relatively speaking the sector's dregs like Colt, Eircom and Sprint r doing well.
In Australasia, different story for TLS & SPK, perhaps they r due a rerating to the upside otherwise the market is downgrading based on the pending poverty of Australasians which I think is getting a tad overdone due to Australian pessimism caused by commodity prices temporarily weakening.
Kiwis will revive their love of talking, mobiles and media-streaming/ broadbanding (in spite of CNU), the pessimism can't go on forever, perhaps SPK is the ultimate contrarian play in the Southern Hemisphere.
SPK was always going to retrace under $3 based on kiwi brokers...
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Last
$3.69 |
Change
-0.050(1.34%) |
Mkt cap ! $6.694B | |||
| Open | High | Low | Value | Volume |
| $3.74 | $3.75 | $3.69 | $1.616M | 435.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11453 | $3.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.71 | 2234 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| SPK (ASX) Chart |