RE:RE:RE:RE:RE:RE:OversoldWell 1condor, I didn't say that today's share price drop was ALL due to the divy payout, I said it was at least in part due to that. A stock price will ususally adjust for a divy payout and usually happens on the day of the payout (which was yesterday) but as we all know the share price went up and closed up considerably yesterday. So I think it's fair to say that at least part of today's share price decline is due to the divy payout yesterday that's being somewhat reflected today, but to be clear I fully agree that the negative Q1 earnings is by far the main driver for today's share price drop. For the long term holders, this is just another buying opportunity.
The market waiting for the Fed to bark later today isn't helping either despite everyone already knowing what the Fed will announce so not the best day for a negative earnings release.
In the meantime, the Hedge Funds and short sellers will be taking full advantage of this little earnings miss and negative outlook. If it's any comfort, RBC analysts have held their target price at $41 CAD despite their unimpressed and negative commentary on Q1 CPX earnings.
HB77