ASB appears to be a good solid company but its share price is suffering due to a downgrade in profits (announced a couple of months ago). This is mainly due to the high cost of expenditure on plant and equipment to set up the company for future growth and contracts.
Price could still keep dropping in the current environment, with any short term upside coming from possible successful tenders for the Aust. Government.
Noticed last week that Westpac have been buying lately and have became a substancial shareholder.
I'd be leaving it alone for now with a view to buy on any success in government tenders.
Just my opinion.
further price weakness, page-2
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Last
$3.06 |
Change
-0.105(3.32%) |
Mkt cap ! $1.072B | |||
| Open | High | Low | Value | Volume |
| $3.13 | $3.13 | $3.02 | $1.363M | 445.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 9758 | $3.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.06 | 4165 | 13 |
View Market Depth
| Last trade - 12.39pm 04/12/2024 (20 minute delay) ? |
| ASB (ASX) Chart |
