Looks like someone REALLY wants out before ex-dividend date. Down ~17% over a week and the way things look we should see sub $2 after ex-div. I don't think PNC's SP deserves that. But clearly, the market is not convinced about the earnings guidance being met and the accounting issues have been resolved.
Personally, I am still bullish and believe the SP should be north of $3 based on fundamentals. But given the negative sentiment and risks implied by the selling pressure, I'm also considering reducing my position if we see a rebound later in the year. What do other long term holders think?
Counsel's opinion, page-45
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Last
60.0¢ |
Change
-0.030(4.76%) |
Mkt cap ! $73.69M | |||
| Open | High | Low | Value | Volume |
| 61.0¢ | 61.0¢ | 60.0¢ | $37.28K | 61.63K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8447 | 60.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 61.0¢ | 15018 | 2 |
View Market Depth
| Last trade - 11.11am 18/11/2024 (20 minute delay) ? |
| PNC (ASX) Chart |
