When will AMP hit $1 ?, page-29

Article from NABtrade "Two of the investment “truisms” are “every dog stock has its day” and “don’t catch a falling knife”. Investors are now looking at Australia’s once great and largest financial institution, AMP, and asking which of these apply. Is it a buy, or just leave it alone?

There is no doubt that AMP has been a “dog” of a stock. Right from its very first day as a listed company in 1998 following demutualisation – probably the most chaotic trading day in the ASX’s history – when AMP shares opened at an astonishing $36.00 (about $20.00 higher than anyone had expected), traded up to a high of $45.00, before closing at $23.00, it has been in this category. Failed investments in the UK (the purchase of Henderson and National Provident Insurance), the attempted takeover of GIO and then the merger with its once fierce rival, AXA Insurance (formerly National Mutual), before the final humiliation and disgrace at the Banking Royal Commission. A litany of mistakes, poor decisions and underperformance over the last two decades – an absolute dog.