This was a turbulent 12 months for both Legacy Amentum and the now ex-Jacobs teams. A big merger deal, strategic pivots, management shake-ups. I think neither side of new Amentum had their eye on the ball. I did some channel checks that corroborated this idea as well.
Agree with you totally that it should sort itself out.
Thanks for another great article. Did you see the reading volume on 12/20/24? Nearly 38 million shares traded In the last few minutes of the day/ buy to close orders that executed after hours.
Any thought on what that could have been? I can’t figure it out
Yes, I am pretty sure the action was due to the replacement of Amentum in the S&P 500 index effective the following Monday (12/23). It was concurrently added to the S&P SmallCap 600 index. Below is a post I made about it on Twitter a couple of days prior to the move. I had commented that I believed it to be a bottom that day.
Good piece, Kris. Another point to add, if I may!
This was a turbulent 12 months for both Legacy Amentum and the now ex-Jacobs teams. A big merger deal, strategic pivots, management shake-ups. I think neither side of new Amentum had their eye on the ball. I did some channel checks that corroborated this idea as well.
Agree with you totally that it should sort itself out.
Thanks for the comment and sharing about the channel checks. Good point!
Thanks for another great article. Did you see the reading volume on 12/20/24? Nearly 38 million shares traded In the last few minutes of the day/ buy to close orders that executed after hours.
Any thought on what that could have been? I can’t figure it out
Yes, I am pretty sure the action was due to the replacement of Amentum in the S&P 500 index effective the following Monday (12/23). It was concurrently added to the S&P SmallCap 600 index. Below is a post I made about it on Twitter a couple of days prior to the move. I had commented that I believed it to be a bottom that day.
https://x.com/KrisRymer/status/1869374664167834043
Thanks! That makes sense.