Telstra down over 50% since Andy Penn
Andy Penn's appointment was on the 1st of May in 2015 and Telstra is down 54% since then. What's next?
Stock:
Telstra (ASX:TLS) $6.24 at 1-5-15, today's open $2.85 on 21-5-18 down -54%, last week down -10.9%Event:
Trading update on Monday 14/05/18 showed a challenging environment for their mobile and fixed services margins currently and in years to come.The challenging trading conditions in FY18 are expected to continue in FY19, including ongoing pressure on mobile and fixed ARPUs and the accelerating impact of the NBN. Sourced from Telstra's announcement on: https://www.asx.com.au/asx/share-price-research/company/TLS
Market Matters Take:
Telstra shares (TLS) have plummeted well over 50% since Andy Penn’s appointment. Wiping a huge $46bn from the companies valuation hurting virtually every Australian through their Super. Interestingly the AMP scandal that so publicly cost chairman Catherine Brenner her job cost investors less than $3 billion. Anyway enough whingeing, time to look forward and attempt to make some money from this telco giant which hopefully is not travelling along the same path as the dodo! TLS is undoubtedly in a bear market which we often refer to as resembling a ping pong ball going down a staircase, it will reach the bottom but not without some large bounces along the way.- Since its major high in early 2015 TLS has bounced 17.7%, 12.6%, 13% and 13.2%.
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