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NS AMP Ltd (ASX: AMP) Stock prices continue to swim in the bright red sea on Wednesday.
At the time of this writing, financial services giant stocks are trading at $ 1 per share, the lowest ever. This is a 2.44% drop from market opening.
What are your recent transactions with AMP’s stock price?
AMP’s share price has continued to grow southward since the Australian Securities and Investment Commission (ASIC) filed a criminal proceeding against the company.
Serious allegations and discoveries of fraud have already been filed against AMP. Royal Commission on Banking and Financial Services.. One of those findings was that AMP was billing the accounts of deceased customers for life insurance and advisory services.
Investigations into such condemned acts were elicited over the next three years. AMP admitted For cheating.
Remember that in March 2018, the era of the Royal Commission, AMP’s share price hit a high of $ 5.43.
Even though it’s an ASIC I dropped one of those cases There is no doubt that the Royal Commission’s findings against AMP in July still plague AMP’s stock price today.
For example, the company Quite solid first half results Stock prices recovered slightly last month.
In its report, the company recognized a 57% year-on-year increase in after-tax net income (NPAT) and increased its assets under management (AUM) by 8%.
However, when zoomed out, the downward pattern continued from this point on, and its earnings results had little or no impact on the long-term trend of AMP stock prices.
What else is squeezing AMP stocks?
It could also be it Failed to deal with Ares Management Earlier this year, investors had a sour taste, especially after two failed deals with Ares.
It is AMP that puts more pressure Split plan It splits and forms two separate entities, AMP Limited and AMP Private Markets.
The company expects the split to be completed by the end of 2010, which seems to be affecting today’s AMP share price.
Finally, it is important to remember the market share based on a blend of past earnings history and future earnings forecasts.
AMP expects earnings in 2009 to be weaker than in 2008 due to lower return on investment and performance returns, especially given the decision to withhold the interim dividend last month. At the same time, it doesn’t go into too much detail about past earnings results for the last three years.
Therefore, taking all of this into account will give you an idea of how the market is pricing AMP stock. This reflects a combination of controversy, transaction flow failures, lower earnings expectations, and lack of visibility into AMP’s growth vision.
AMP stock price snapshot
AMP’s share price was a major disappointment for ASX this year, recording a 36% loss from January 1st.
Last month alone, AMP stocks fell another 13%. This will increase losses over the last 12 months to 33%.
These results are delayed S & P / ASX200 Index (ASX: XJO) profit of about 25% over the past year.
AMP (ASX: AMP) shares reached a record low of $ 1 today
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