AMP has rallied +12.4% in 2022 compared to 49 members of the ASX200 who have tumbled by 25% or more, a list that includes a number of stocks that were very popular back in January, not many pundits would have been on this one we suspect! AMP has NTA about 20% above today’s price much of which should be realised when it sells its fund’s management business hence if we see any tax-loss selling courtesy of the company’s awful performance over the last few years we believe the risk/reward will be very appealing as a contrarian buy.
MM likes AMP under $1.10
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