My take15 Jul 2021 09:38
ASOS is owned mainly by Institutional Investors
The market does not like statements like “ Trading in the last three weeks of the period was more muted, as continued COVID uncertainty and inclement weather, particularly in the UK, impacted market demand. We anticipate a measure of volatility to continue in the near term, given the rapidly evolving COVID situation worldwide”
They’ve taken down, as twice before, to let IIs accumulate as they know long term it will come good so have triggered on PIs fear
I’ve bought sub 4500 twice & it’s gone over 5300 each time & will do again
Business is solid but caution is allowing IIs to get cheaper shares from PIs
I don’t expect a rapid bounce but in the coming weeks it should push back towards the low 5000s
You haven’t lost anything until you sell & I had a lot underwater for a month or two but it all came good here as it will again