QuickFlix & Amber Technology Walloped As ASX Drops $55B

X

Amber Technology, Quickflix and David Jones have all seen their share value walloped as investors dump retailers and entertainment stocks for the safety of cash.

Amber Technology, Quickflix and David Jones have all seen their share value walloped as investors dump retailers and entertainment stocks for the safety of cash.

Earlier today the Australian share market dropped more than 5 per cent. At noon Quickflix had fallen 17.72% while Amber Technology the distributor of brands like Onkyo, Altec and Meridian fell 11.29%. Harvey Norman fell 4.75% while David Jones fell 6.74%.

The best performing stock for the second day running was JB Hi Fi whose stock only fell 2.25% following the reporting yesterday of their yearend results which revealed an 8.25% lift in sales and a 13% lift in profits.

The big drop in retail stocks followed Wall Street’s overnight sixth biggest points drop on record, as investors continued to dump riskier assets on fears the US is headed back into recession and after the US was stripped of its triple-A credit rating.

By late morning, the S&P/ASX 200 index had fallen 5.2 per cent 3765.5 in heavy trading after the benchmark index touched a new two-year low of 3865.8 earlier in the session.
It was estimated the ASX 200 had lost about $55 billion by late morning.

Westan 728x90px QuickFlix & Amber Technology Walloped As ASX Drops $55B
FA 979 HN MDF SG14 14gen 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
GOTHAM 728px x 90px QuickFlix & Amber Technology Walloped As ASX Drops $55B
BEL2535 BPB024 4SQ Banners 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Flick of a switch 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
728 x 90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
728X90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Hisense KV BannerAd 728 90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Skullcandy 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Marshall 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
ELX DIG Crosscat Promo 728x90 Mar25 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Arlo EOFY25 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
JBL TourPro3 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
ChannelNews AZ100 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
BlueAnt 4SQM PumpAirUltra 728x90px QuickFlix & Amber Technology Walloped As ASX Drops $55B
MaxRanger4K Leaderboard 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
241211 SAV Ruark CNewsJan Leader QuickFlix & Amber Technology Walloped As ASX Drops $55B
Px7 S3 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
hitachi banner 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
Uniden Channelnews SoloX July 2024 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
HAIER Series 600 FLW HPD Pairs 728x90 1 QuickFlix & Amber Technology Walloped As ASX Drops $55B
AU X8 Banner 728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B
728x90 QuickFlix & Amber Technology Walloped As ASX Drops $55B


YOU MAY ALSO LIKE