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"Jezz, if this keeps up we will all have cost averaged down to ZERO by the end of the year !"
Well, as of right now with how things stand, it looks like tomorrow will bring some respite which should see the sp back above 210p and thanks to 'Robin Hood' (aka dum-dums) next week there is a high chance it will be trading between 220p-230p. But the sp will still be heading in a downward trajectory in the near-term.
I assume some of you are seeing a closing price on Google of 106p, that price is incorrect and its some sort of glitch with Google that happens time to time. Official closing price is 100p...
https://www.londonstockexchange.com/stock/BT.A/bt-group-plc/company-page?lang=en
Yesterday the FTSE was positive for most of the day (albeit marginally) even when DOW futures was in the red, then by late afternoon soon after Jeremy Powell’s speech, futures turned positive with the US markets opening solid, whilst the FTSE began to drift and finished down by over 60 points from the day’s high? Again today, DOW opens up over 100 points but immediately after the FTSE moved back into the red?? I know in terms of % points the correlation between the FTSE and DOW are not the same, but from my observations the FTSE (as most of the world’s indexes) usually moves in tandem (up/down) with the DOW, especially when the DOW has consecutive up days or vice versa. The last couple of days appear to be an anomaly and can’t think of the reason as to why?
With the DOW continuing its insane rally and now very close to reaching pre-covid ATH, you have to ask where the FTSE/stock prices will be when that bubble pops? If BT sp is 105p now, I hate to think what it could be if the DOW was to fall back to around 18,000 points or even a very possible 23,000.
I thought the takeover rumours might have been a turning point highlighting how undervalued BT is and hoped it would help the sp to hold its own, but it remains weak as when markets are flying you are lucky to see negligible gains but when the markets heads down even a smidge, you can be sure BT’s sp will multiply the drop many times over!
Once this gap is filled then BOOM! We could easily see 120-130p by end of today...
https://uk.investing.com/equities/bt-group-candlestick
So true, this should be a wake up call to all that BT is grossly undervalued, especially the MM's. Also let's not forget that the CEO bought £2 million worth of shares only a few months ago and in 2019 bought £3 million at an average of £2 a share, as well as other board members buying big, so this inspires a lot of confidence as how often do you see directors of a FTSE company buy £millions worth of their own company stock?