Insights

When was the best day ever on the AMP share price chart?

The AMP share price’s best day on the ASX wasn’t that long ago.
The post When was the best day ever on the AMP share price chart? appeared first on The Motley Fool Australia. –

Despite its 22-year history on the ASX, the best day ever for the AMP Ltd (ASX: AMP) share price wasn’t that long ago.

In October 2020, AMP set a new record when its shares gained a whopping 19.53% in a single session.

After finishing the previous session at $1.28, the AMP share price closed 30 October’s session at a hefty $1.53.

For comparison, the company’s second-best day on the ASX saw its share price boosted 11% higher.

So, what spurred the record gain that day in the diversified financial services company’s shares? Let’s take a look.

AMP’s best day on the ASX

The best day ever for the AMP share price was brought about by a takeover offer.

On the morning of 30 October 2020, AMP announced it has received an indicative, non-binding takeover offer from US-based Ares Management Corporation (NYSE: ARES).

Ares had proposed to purchase all of AMP’s shares in a scheme of arrangement.

While the news evidently excited the market, the company did note it was considering the offer alongside many other possibilities for the business’s future.

At the time, The Motley Fool Australia reported on rumours that Ares was offering to pay $1.85 per share, valuing AMP at $6.3 billion. A few days later AMP confirmed the rumours were true.

Unfortunately for excited shareholders, the takeover offer fizzled out.

Hopes may have been pricked again when the two companies planned to enter a joint venture in February 2021. The AMP share price gained 7% when it was announced the company was in talks with Ares once more. Unfortunately, that discussion also fizzled out.

Perhaps a partnership between Ares and AMP was simply not meant to be.

AMP share price snapshot

Since its best day on the ASX, the AMP share price has fallen 33%. It has also fallen 27% since the start of 2021.

Right now, a share in AMP will set an investor back $1.13 as at the market close on Friday.

The post When was the best day ever on the AMP share price chart? 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

The AMP (ASX:AMP) share price is down 28% so far in 2021. Here’s why
August has been a good month for the AMP (ASX:AMP) share price
Australia’s rising delta recession risk could hit these ASX 200 shares badly

It’s been a good week so far for the AMP (ASX:AMP) share price
Why the AMP (ASX:AMP) share price has significantly underperformed the ASX 200 in the last year

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
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!