"Challenger" Bank.....perhaps they could have saved a bunch of cash and completed due diligence merely upon the name of the target.
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Sizeable 6% move up today, no news?
Something in the wind eg Banking license ? or way too early ?
Nice to see anyway...
Wants to rise when the heavy sellers are away. Hopefully the not the long weekend effect.
Percy raised a good point to me - wonder whats happened with Geoff's shares? Was a chunky stake if memory serves me right - circa 15 million - but not above the 5% threshold for SSH notices, and (sadly) not required to provide director/officer notices anymore.
Well oversold in my view, hoping a rally can become entrenched.
Not just over sold, traders were manipulating the SP.
Nice to see HGH near the top of the leader board today.
I calculated the other day Heartland's long term beta - from the time it became HGH (from HBL) back at the end of October 2018 to the end of february. It's extraordinarily high at 1.57 (1 being average). What's that mean in practice? Volatily, with the price overreacting to bad news and sentiment, and the good. Hopefully at some point we start getting some good news for the SP to overreact to as well (the fun part).
Why would HGH have a high beta?
More retail investors vs instos? (I don’t know that for sure I just remember reading it once)
Or just because it’s a financial and a small bank at that
Aye there are too many ways to calculate it that all give you different outcomes and cause you to conclude its all a bit of bunk. The method I chose probably the best suited to low liquidity / lower volatility index that is the NZX50. Takes the average monthly SP, adds the declared div if there is one in that month, and compares that to the average monthly NZ50 gross index, taking the slope of the pairs monthly respective LNs. Better than just flicking daily or monthly on a bloomy but yeah take it with a grain of salt. no doubt off but intuitively feels sensible - recall the over reaction in the SP during the milk bust or covid, the soaring SP during 2021 and early 2022, etc
and @rawz yeah I think you are on to it