12/28/2023 0 Comments Will amp stock go up![]() ![]() ![]() In their half-year results presentation yesterday, they revealed $3.1 billion in net cash outflows with $1.2 billion of this being pension payments to retirees. This time around, there could be an air of desperation to the revamp though. These moves are reminiscent of its previous efforts at revitalising the business that were initially pitched by the previous CEO Craig Meller. The new strategy will be aided by a $650 million dollar capital raise via an institutional placement. It will aggressively cut costs, sell non-core assets, push ahead with the sale of its life insurance business, increase its emphasis on ‘robo-advice’. AMP share price up today, but company still faces headwindsĪMP shares rose upon the commencement of trading today, potentially due to a short squeeze.Ī short squeeze happens when short sellers close out their positions, usually because of a positive development that could signal a turnaround.īut let’s dig into their plans to right the ship. We argue that the AMP share price will struggle to build momentum for a while yet. The company has recently completed a capital raising and has revamped its 2017 strategy going forward. ![]() Today, we’ll examine the potential for the AMP share price to go back up in a meaningful way. The last 12 months likely has AMP shareholders feeling despondent with the AMP share price being locked in a slide throughout this period: At time of writing, the share price of AMP Ltd is up a significant 7.23% trading at $1.855. ![]()
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