Got to look at the big picture to understand downturn in WPL share price.
There is a downturn in global growth expectations underway that is affecting all sectors - you see it in aussie $ weaker, US bond yields down, broad range of commodity prices (in US$ mind you) down. Multiple reasons for this - notably the rebound in Covid in Europe and US, the crazy US election coming into view.
Energy has a higher beta on global growth, but its downturn has been exaggerated by the improved odds of a Biden presidency, who is seen as less friendly to fossil fuels than Trump.
Energy will be one of the early recovery stories when the world emerges from covid and the market typically sells off ahead of election, only to rally thereafter. I have plenty of cash and will wait till the day or so after the election to pick up some bargains - woodside (which is a well run company) will be one of them.
WPL buy, page-250
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Last
$24.25 |
Change
0.330(1.38%) |
Mkt cap ! $46.04B | |||
| Open | High | Low | Value | Volume |
| $24.55 | $24.59 | $24.16 | $116.2M | 4.766M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $24.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.26 | 1701 | 2 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| WDS (ASX) Chart |