Insights

Here’s why the AMP (ASX:AMP) share price is down 9% in a week

Let’s take a look at what’s been weighing on the financial services provider’s shares.
The post Here’s why the AMP (ASX:AMP) share price is down 9% in a week appeared first on The Motley Fool Australia. –

The AMP Ltd (ASX: AMP) share price is having a tough run lately. It slipped 8.6% last week, despite silence from the company.

Though, AMP had a big week last week. In fact, the diversified financial services provider released its financial 2021 results and was in the media a number of times.

After finishing the previous week at $1.16, AMP’s shares closed Friday’s session trading for $1.06 apiece.

Let’s take a closer look at what’s driven the AMP share price over the past 7 days.

AMP’s poor week’s performance

The first piece of news that likely impacted the AMP share price last week actually hit the market the week before.

AMP released its earnings for the first half of 2021 after the ASX closed on Thursday. In reaction, the AMP share price soared 3.57% on Friday.

AMP reported its net profits had increased 57% over the 6 months ended 30 June. However, it decided against handing its shareholders an interim dividend.

The AMP share price’s fall last week could, therefore, have been a result of it realigning after the single day’s gain.

Though, it could also have been due to AMP’s newly appointed CEO Alexis George’s media rounds.

While George hadn’t been in the media much last week, on Thursday and Friday of the week before she had multiple discussions on AMP’s future with numerous outlets.

George told one outlet she plans to increase AMP’s focus on technology. She told another that AMP shareholders should strap in for a slow, ultimately upwards-facing, journey.  

Finally, on Friday night, The Australian published an article in which George stated AMP’s banking and mortgage segment houses major opportunities for the company.

Whatever the reason for AMP’s shares’ recent woes, the future looks like it might be brighter. At least, the company’s CEO thinks so.

AMP share price snapshot

It hasn’t been a good year for AMP’s stock.

It’s fallen 32% year to date. It has also dropped 25% since this time last year.

The post Here’s why the AMP (ASX:AMP) share price is down 9% in a week appeared first on The Motley Fool Australia.

Should you invest $1,000 in AMP right now?

Before you consider AMP, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and AMP wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

When was the worst ever day on the AMP (ASX:AMP) share price chart?
Will Delta wreak long-term havoc on ASX shares? This economist says no

Own AMP (ASX:AMP) shares? A transformation will ‘take time’: CEO
Can a new tech focus help rescue the AMP (ASX:AMP) share price?
Here are the 3 most heavily traded ASX 200 shares this Thursday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!