“Market Dips: GPT Group Shares Fall by 11.2%”
Investors were sent into a frenzy when shares of The GPT Group (OTCMKTS:GPTGF) plunged by 11.2% in Thursday's trading session. The stock witnessed a low of $2.71 matched by the closing trade. The monumental fall was evident with a mere 100 shares exchanging hands, a staggering 96% drop from the daily average of 2,282 shares.
The falling stock bid farewell to its previous close of $3.05. This marks a substantial dip below both the 50-day simple moving average pegged at $2.90 and the 200-day simple moving average standing firm at $2.80.
The GPT Group is a diversified property organisation that owns and manages a robust portfolio of various high-quality Australian assets such as retail, office, and logistics. Their assets under management are valued at a hefty $32.4 billion. The Group prides itself on making optimal use of its real estate management platform to spur property development and funds management.
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What do you think is behind the dip in The GPT group's shares? We'd love to hear your insights.
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