Trading this week has been all about Medibank
The Australian market started strong this morning adding 55 points on the back of surprising US GDP numbers overnight. Most of the gains have been retained moving into the afternoon session with the ASX200 staying up 40 points.
Medibank remains the focus by retail investors again as their easy ten percent profit now sits at five creating mixed reactions among investors. With the stock sitting at $2.10 per share, some investors are frustrated with the fall from yesterday’s high, while others begin to think about staying in for ‘the long term’ especially since the scale back resulted in much lower investment by investors.
Medibank has less than one quarter of yesterday’s trading volume changing hands today and has had a price range of $2.08 - $2.15.
Cab charge director Rod Gilmour has quit on the eve of its annual shareholder meeting, which saw its fourth consecutive vote against management remuneration however a vote to spill the board was rejected for a second time.
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Frequently Asked Questions about this Article…
Medibank has captured the attention of retail investors due to its recent stock performance, where a quick ten percent profit has now reduced to five percent. This fluctuation has led to mixed reactions, with some investors considering long-term investment strategies.
Medibank's trading volume today is less than one quarter of what it was yesterday, indicating a significant drop in the number of shares changing hands.
Today, Medibank shares have been trading within a price range of $2.08 to $2.15 per share.
The Australian market started strong today, adding 55 points due to surprising US GDP numbers. The ASX200 has maintained a gain of 40 points moving into the afternoon session.
Rod Gilmour, a director at Cabcharge, has resigned just before the company's annual shareholder meeting. This meeting also saw a fourth consecutive vote against management remuneration, although a vote to spill the board was rejected for the second time.
Some investors are contemplating holding onto their Medibank shares for the long term, especially after the recent scale back resulted in much lower investment by investors.
The surprising US GDP numbers positively impacted the Australian market, contributing to a strong start with a 55-point increase.
For further commentary from CMC Markets, you can contact them at 02 8221 2124.
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