I thought I'd start this thread as many investors are staking some hope on a turnaround in AMP on the buyback. It is chickenfeed. I'll continue with a paraphrase from a post that was orphaned on another thread. The buyback is going to be gobbled up very quickly by shorters and short term traders.
The buyback I believe is only $200m. 200 very big ones for me, but a pittance for bait with the big sharks watching AMP. If you look at the volume over the past 6 weeks this would be spent in less than 10 days trading. I'm not a funny mentalist but in the scheme of trading and the charts it really is chicken feed. So the scenario would be, AMP buyback, Alan Le Blue or some other holder or fund or frenemy or enemy short the stock down, AMP buy back, Alan Le Blue et al take their profit, AMP buyback more, and so on.
The AMP Buyback Is Chicken Feed
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 (20min delay)
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Last
$1.09 |
Change
-0.050(4.41%) |
Mkt cap ! $2.941B | |||
| Open | High | Low | Value | Volume |
| $1.13 | $1.14 | $1.09 | $11.98M | 10.94M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 214936 | $1.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.09 | 2890 | 5 |
View Market Depth
| Last trade - 16.10pm 19/04/2024 (20 minute delay) ? |
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Last
$1.09 |
Change
-0.050 ( 4.40 %) |
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| Open | High | Low | Volume | ||
| $1.13 | $1.13 | $1.09 | 2394745 | ||
| Last updated 15.59pm 19/04/2024 ? | |||||
| AMP (ASX) Chart |