Bad news is bad again: why share market fundamentals are back in fashion

Tesla shares were trading at over 120 times its estimated 2023 earnings at the start of the year. (Photo: Aidan Hancock)

Dan Brunskill

Fri, 04 Feb 2022

Last month was the worst January for the New Zealand equity market since 2008, as climbing interest rates sent share prices falling.However, Harbour Asset Management believes the market correction has washed away some of the inflated value introduced by monetary policy and not from company performance. The fund manager said a “large chunk of investor returns has been backed by solid earnings and revenue growth” but some was due to putting a higher value on those earnings.“Markets have started to see a wash-out of some of...

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Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 9:40am

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