What Happened to the Qantas Share Price?
Qantas Airways Limited [ASX:QAN] is an Australian based domestic and international airline with two brands, Qantas and Jetstar.
The share price closed 3.50% lower on Thursday.
Why Did This Happen to QAN Shares?
Foreign investment in the company fell from 47.8% to 42.8%
What Now for Qantas Airways Limited?
The airline reached a 17 month high of $1.72 yesterday.
Today’s sell off could be some investors keen to take profits while the stock is at this peak.
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If the sell off continues, it could easily fall to around $1.55 in the short term. However, this company is regularly plagued by bad news, so a nosedive to $1.40 isn’t out of the question.
Don’t rush into buying this stock. It has disappointed the market with financial losses for the past five years. Remember, just because a stock is cheap doesn’t make it buy!
Shae Smith+
Editor, Money Weekend
The post Why The Qantas Share Price Fell Today appeared first on Stock Market News, Finance and Investments | Money Morning Australia.
