AMP has slipped 25% from its November high without hardly creating a wave such has been the stocks habit over recent years. However this time part of the reason for the shares dropping is the companies delisting from the New Zealand Exchange creating some natural sellers who don’t want to hold onto their shares which will be automatically moved to the ASX.
The planned demerger of AMP Ltd and AMP Capital Markets hasn’t excited the battered investors but we feel they might be abandoning the ship at the wrong time i.e. a small shareholdings share facility saw over 205,000 shareholders sell over 52milion shares at an average price of $1.09 our “Gut Feel” is these sales will look poor through 2022.
MM likes AMP around 95c as an aggressive play
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