What’s Happening with the Qantas Share Price?

Qantas
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What happened to the Qantas share price lately?

On October 13 2014, Qantas Airways Limited [ASX:QAN] closed at $1.30. By the time they hit a high of $4.22 on April 4, 2016, they were up 225%. However, since April 4 Qantas shares stock has been trending down. At the close of yesterday’s trade they were $3.01.

Why did Qantas shares drop?

Qantas shares fell heavily after the company released an announcement on the 18th of April. At the time the company warned on softening demand that had developed after its previous market guidance. The company is also close to completing a $500 million on market share buyback that it announced in February.

What now for Qantas Airways?

The company is due to release its full year results in August. According to the Australian Financial Review, several brokers are suggesting that the company will announce a further buyback program in the next financial year.

Callum Newman,
Daily Reckoning

Callum Newman

Callum Newman

Callum Newman is the editor of The Daily Reckoning and Associate Editor of Cycles, Trends and Forecasts. He also hosts The Daily Reckoning Podcast. Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with. Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect. To have Callum’s thoughts and insights on the current state of the currency, commodities and stock markets delivered straight to your inbox, take out a free subscription to The Daily Reckoning here.
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