It "should" but that's simply not how markets work.
High P/E stocks are market darlings whose share prices have weathered the storm better than their peers.
Woolworths has a high P/E because as I keep point out, its not a defensive stock, its a growth stock that's a defensive company.
Retailers don't grow profits 24% a year and expect double digits year after year, hence why the high P/E for Woolworths.
If it were up to me Woolworths would still be $16 to $18 of it came down to the All Ords average P/E.
It "should" but that's simply not how markets work. High P/E...
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Last
$34.71 |
Change
0.250(0.73%) |
Mkt cap ! $42.40B | |||
| Open | High | Low | Value | Volume |
| $34.48 | $34.78 | $34.48 | $96.78M | 2.792M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5917 | $34.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.73 | 8137 | 1 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| WOW (ASX) Chart |