You'd hope not, given the average buy was about $1.04. I'd considered ACC to be a bit more on the ball than that and that this sector would be "safe as houses" for them over the long term.
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ACC trades around the edges, +/- 200k shares around their many core 5% holding levels in stocks.
Real sellers are those who picked up some of the 37m shares sold from 55c down to 40c.
They can't sell forever and there have been big crossings at 73c and 74c - means the institutions are stepping up to buy.
3m done today so far - so around another 9m to go (if they all sell out to lock in profits - which might not be the case).
Roger that, Balance, thanks for the explanation. Seems to be pretty good support at these levels. Debating loading up on a few more as we must be about due an uptick on this one, just like MET. My portfolio is a bit more heavily weighted towards this one sector than I'd normally like, but just not seeing anything much else that hits the right price point at the moment.
Up until 2 days ago over half, 12 of 21 NZ deaths were from just the one Rest home, Rosewood Rest Home in CHC. That cluster also was responsible for 54 cases.
I feel its important to note that should not cast a shadow on dedicated staff who from all accounts have done their absolute best in a tragic situation.
An inquiry has reported staff were unable to change their PPE frequently enough & damp masks from exertion during the shifts likely caused the breach in protection.
The deaths mean Canturbury has by far the largest Covad mortality rate.
Overseas shareholders - especially those institutions based in the USA and UK perhaps, would see what has in care facilities there and perhaps that colours their opinion of risk for NZ elder care too.
The actual figure for Covid deaths in the UK (& the USA too?) is understated as not all people who die in care homes (or in their own homes) have been tested for Covid-19. Reported Covid deaths include only those who have been tested and reported a positive result. There has been a severe lack of testing in the UK, as their PM ignored advice and they have not heeded WHO advice to "Test! Test! Test!"
It may be best to compare the current month's mortality rate with the average of the last two years. When that is done, many more elderly deaths could be attributed to Covid as deaths ascribed to another underlying cause, may have had undiagnosed Covid-19 which acted as the final straw.
Or government plandemic
Very poor and frustrating plans.
My perception is that the ongoing cases are the result of poor testing,inaccurate tests and failure to protect nurses and contacts of possible cases. The fault is in planning not people .
the lockdown has been very poorly planned eg forestry working stopped despite no evidence that there has been any transmission in outdoor workers.
We cannot be trusted to use our boats but ok for team NZ to go sailing in what is a very dangerous type of sailing.
The airforce and regional council in Northland has wasted so much in resources not to mention risks in searching for errant boaters.In response I see my neighbours go fishing at night to avoid detection.
I hear parties at night but i am not going to dob them in .Rather than police having roadblocks which probably has not reduced transmission it would be so easy for them to patrol streets looking for such risky things.
My wife sees people chatting in supermarkets-would be safe if they chatted outside keeping 2 metres distance .
Some people are really stupid and take risks so I have no problem if prosecutions ensued if others have been endangered .