Ask Colin

STOCK PRICE ADJUSTMENT

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  1. If we adjust historical data for new issues etc, won
  2. After reading your article in the September edition of SHARES magazine I bought some shares in Millers Retail, paying $6.25 each, on 28/8/01. I was therefore surprised to see in today's paper, less than a month later, that Millers Retail is now down to $2.81. Something funny must be going on, because the listing quotes the 52 week high as only $3.80, whereas the graph in SHARES magazine shows it to have been near $7.00. I have seen nothing in the daily press which would explain this anomaly. Can you shed some light on what's the story with Millers Retail for me?
  3. What effect does a capital return have on share price? If it reflects a better financial position of the company is it likely to have a negligible impact?
  4. You informed me when I was back testing the ASX 100 that it is important to adjust all those stock prices and yields that have been influenced by company share price splits, rights issues and so on. For this we may need further data than is published in the list of the top 150 by market cap in the newspapers, True? Or perhaps Not?
  5. What is the likely impact of a share splits and consolidations?