APE has had a great run lately but on Tuesday 10 November that's come to a halt with it down 10 per cent to $11.79, a drop of A$1.31 for the day as at 1415 hours.
I never believe in being greedy so it's natural that many shares can't have an unbroken upwards run ad infinitum, but 10 per cent in a single day is a big drop.
The VFACTS new car sales figures were encouraging with Octobe 2020r total sales decreasing by just 1.5 per cent compared with October 2019.
Victoria was worst with a 28.3 per cent decline, but should improve a bit given that from 9 November 2020 statewide travel curbs have been removed. However unemployment is high in Queensland, Victoria, NSW and perhaps other states with the exception of WA so this may weigh on consumer spending including that hefty commitment to a new vehicle.
Are problems in dealers obtaining sufficient new car stock weighing on APE, and perhaps similar in the used car market?
APE Price at posting:
$11.76 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)