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Online Share Trading

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CFR

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BullsnBears
Contributor
Richemont announces a 43% drop in operating profit and the stock is up 7%? What am I missing here? Does the market like the board change that much?
8 REPLIES 8
prancing_horse
Super Contributor
Maybe the "clever" boys were expecting a drop of 60%. My view is that in the current climate the share is still pricey
Russ
Super Contributor
How about newplat up 1% and the Plat index down 4%? This market's crazy at the moment.
BullsnBears
Contributor
Strange. Maybe someone knows something the rest of us don't.
BullsnBears
Contributor
Down on just about every metric - sales, profit, margins, cash flow. I can't find anything positive in the these results that would justify such a big move - now at almost 10% up. This thing should be 10% DOWN.
partridge
Super Contributor
What were the out lying views on results?
Russ
Super Contributor
Looks like cfr is the only gainer in the top 40 at this stage.
BullsnBears
Contributor
Good question. They did warn that profit would be down about 45% in September. So that's where they came in today. You would assume the market would've already priced it in. At worst the stock would stay flat but how does it end up rallying 10% then?
kwagga
Super Contributor
Our market is now on the same level as 1969 - Most expensive it's been in 46 years