Is Diageo telling us something about November's US election?
By Chris Bailey | Monday 28 September 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Back in April, I mused about how the spirits behemoth Diageo (DGE) was a great insight into the broader markets. Interestingly, the share price today is within one percent of where it was when I wrote about the company more than five months ago – which tells you just how much we have been treading water at multiple levels over that period. Anyhow, the above observation includes factoring in a 5% odd share price bump today. So what did the owner of the Johnnie Walker, Bell’s, Smirnoff, Bailey’s and Gordon’s brands among many others say today in a pre-AGM trading commentary to induce such a reaction? And what can be discerned about the wider view of the world?…
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.