CSL Shares Plummet to Multi-Year Low Amid Strategic Overhaul

Shares of Australian biotechnology firm CSL are experiencing intense selling pressure, driving the stock to its lowest valuation in six years. Trading on the Australian exchange, CSL’s equity declined by 1.9 percent to A$206.84, leading a broader downturn in the healthcare sector, which fell 1.8 percent.

The sell-off intensified as the share price breached a critical support level, dropping to a daily low of A$205.21. This represents its weakest performance since May 2019 and falls below the previous six-year low of A$205.92 recorded just last week. A sustained downward trend has seen the company’s market value erode by 23.8 percent since August 18. The most significant single-day decline of 16.9 percent occurred on August 19, immediately following the release of its annual results. Over a 12-month period, the cumulative loss now stands at... Read more...