Ashtead Group has dropped considerably from highs of £64 to around £47 and continues to decline.
I cannot see any evidence of institutions selling shares, does anyone have an idea on the weakness?
It's probably to do with a slowdown in the US where Ashtead (LON:AHT) have a lot of exposure, Somero Enterprises Inc (LON:SOM) are also down by similar amounts. EPS growth forecast have been reduced recently. Debt is quite high, interest rates are going up. A lot of stocks have also fallen back, in the last few months, construction sector is out of favour, reports of growth slowing.
