jdon
I think you hit the nail on the head.
I'm a big fan of the stock, management and how they have grown the business, but at $16 the price seems to have outpaced it's already high historical P/E, so a miss was always going to have a significant impact to the price.
As you say, and I agree that the market is doing a rerate of the business given the miss, the higher debt levels (due to the significant purchases they have made in the last 2 years - ~2bn), and how the new businesses are going to contribute, so I agree that it may take some time to regain its previous price (then again, who knows in this market).
Again a big fan of the stock, but a price drop does not necessarily mean value, and be careful of confirmation bias
oversold, page-64
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Last
$37.28 |
Change
0.200(0.54%) |
Mkt cap ! $22.38B | |||
| Open | High | Low | Value | Volume |
| $37.50 | $37.55 | $37.15 | $17.93M | 480.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3363 | $37.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.30 | 1001 | 2 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| RMD (ASX) Chart |
