The price drop is not due to shorters. The stock is over-valued. The market, which is a forward looking mechanism for determining price, is re-pricing the stock based on the fact that Resmed missed growth expectations.
Going forward, the market no longer believes that a P/E ration of 35 is justifiable. Resmed is growing nicely, but it's now growing enough to sustain a $16+ share price.
My greed got the better of me on this one, and I jumped in on Friday when the stock dropped 12%, without properly looking at the company. Now that I have looked at it properly, it looks overpriced. I bought more today to average down, but I think I'm going to have to hold this stock for sometime before I see it break-even.
So I've changed my sentiment from Buy to Hold. Good luck to all!
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Last
$38.11 |
Change
-0.240(0.63%) |
Mkt cap ! $22.38B |
Open | High | Low | Value | Volume |
$38.50 | $38.57 | $37.66 | $49.01M | 1.287M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6322 | $38.11 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$38.12 | 8095 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 13767 | 14.400 |
2 | 17668 | 14.390 |
3 | 20967 | 14.380 |
2 | 14124 | 14.370 |
4 | 21382 | 14.360 |
Price($) | Vol. | No. |
---|---|---|
14.430 | 22863 | 3 |
14.440 | 27216 | 4 |
14.450 | 46627 | 8 |
14.460 | 34563 | 7 |
14.470 | 22668 | 7 |
Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
RMD (ASX) Chart |