NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Vodafone share price is still at risk despite Xavier Niel investment

by September 23, 2022
written by September 23, 2022

Vodafone (LON: VOD) share price has come under intense pressure in the past few months as concerns about the firm’s turnaround continue. The stock was trading at 109.40p on Friday, which was slightly above the year-to-date low of 106.50p. It has crashed by more than 22% from the lowest level this year.

Xavier Niel invests in Vodafone

Vodafone is a global telecommunication company that provides its services in countries like Kenya, India, Germany, and the UK. 

The firm has come under fire as the cost of doing business internationally escalates. In its most recent statement, the firm said that its total revenue rose by just 1.6% to 11.2 billion euros. Its German services revenue dropped by 0.5%. 

Vodafone Business revenue rose by 1.7% while its Africa business grew supported by M-Pesa. In the first quarter of its 2023 year, the number of M-pesa customers jumped to 49.7 million while the volume of transactions rose to $5.7 billion.

Vodafone is facing numerous challenges. A key challenge is that local currencies in some of its key markets have crashed this year. The British pound has dropped to the lowest level since 1987 against the US dollar while the Turkish lira has crashed by over 70% this year.

Vodafone share price is reacting to news that Xavier Niel, a French billionaire has become a major shareholder in the firm. His firm, Atlas Investissement bought a 2.5% stake in the firm. It is unclear whether he will push for more changes in the company.

History suggests that he will likely do the same with Vodafone. For example, he bought a small stake in Unibail and helped to oust its Chief Executive. If he decides to push for more changes, he will likely have the support of Cevian, a European activist firm.

Vodafone share price forecast

The daily chart shows that the Vodafone stock price formed a triple-top pattern at 132.26p recently. In price action analysis, this pattern is usually a bearish sign. It then manage to drop below the neckline of this pattern at 115.12p in May.

At the same time, the stock has moved below the 25-day and 50-day moving averages while the RSI has moved slightly above the oversold level.

Therefore, there is a likelihood that the stock will continue falling as sellers target the next key support level at 100p.

The post Vodafone share price is still at risk despite Xavier Niel investment appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Is the crash of Aston Martin share price a buying opportunity?
next post
BP share price analysis as crude oil prices dip

You may also like

US court dismisses claim Coinbase sold unregistered securities

February 2, 2023

Ray Dalio now sees cash as ‘relatively attractive’

February 2, 2023

Peter Schiff: “Disinflation is transitory”

February 2, 2023

3 main takeaways from Chair Powell

February 2, 2023

Analyst recommends ‘caution’ as Meta stock pops 20%...

February 1, 2023

Fed just ruled out rate cuts this year:...

February 1, 2023

Jim Cramer likes only one of these two...

February 1, 2023

Analyst: buy Vodafone stock despite a slight hit...

February 1, 2023

Peloton stock shot up 20% on Wednesday: find...

February 1, 2023

IOTA promotes sustainable energy consumption with EnergieKnip

February 1, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 3

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • US court dismisses claim Coinbase sold unregistered securities

    February 2, 2023
  • Ray Dalio now sees cash as ‘relatively attractive’

    February 2, 2023
  • Should the Fed Stop Tightening?

    February 2, 2023
  • Peter Schiff: “Disinflation is transitory”

    February 2, 2023
  • The FOMC: To Pause or Not to Pause?

    February 2, 2023

Categories

  • Economy (604)
  • Editor's Pick (232)
  • Investing (1,605)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick