Well, I would say that it may have something to do with:
a) Sale of the hotel in sydney at a 10% reduction to June 2009 book value [http://www.theaustralian.news.com.au/business/story/0,28124,26263137-25658,00.html]
b) Murmurings of GPT participating in a potential $740m acquisition [http://www.theaustralian.news.com.au/business/story/0,28124,26251699-643,00.html]
c) Increases in interest rate cycle - which has a negative impact on spot asset values
I don't agree with any of these reasons having material long term impact on the share price - however the question was why the sudden movements - and I believe these reasons have influenced the herd.
At such times I quote the oracle of omaha - "In the short term the market is a voting machine, in the long term a weighing machine"
I try to buy heavy weights at lightweight prices :) :) :)
PS: For those wanting news, I go to news.google.com and type in GPT - and most of the information is there on demand, rather than waiting for someone like me to come along and aggregate it here!
Well, I would say that it may have something to do with:a) Sale...
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Last
$4.12 |
Change
0.070(1.73%) |
Mkt cap ! $7.892B | |||
| Open | High | Low | Value | Volume |
| $4.06 | $4.12 | $4.05 | $42.63M | 10.37M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6063 | $4.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.12 | 218087 | 10 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| GPT (ASX) Chart |