AMP 1.21% $1.23 amp limited

amp - westpac rumours

  1. 4,927 Posts.
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    There were rumours on Friday and over weekend that Westpac wanted a stake in AMP at $7.50. Anyone have thoughts?

    I think AMP is a great buy at the moment for a number of reasons:

    NAB wanted about 15% of AMP to at least have a driving seat. At current holding of 5% they're in no mans land and they'll need to probably buy on market rather than have another embarrassing after market trade.

    There are still many large institution with short positions in AMP. They'll all need to be buying and they'll all want to be overweight AMP rather than underweight soon.

    It looks like the AMP UK operations may be finalised sooner than everyone thought. If this happens AMP will move above $10 very quickly according to many analysts.
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