The day CBA shares crashed back down to earth

The ASX’s gorillas have big companies so priced to perfection that they’re sitting ducks for results day capitulations. That’s what happened to Commonwealth Bank of Australia on Wednesday.

Big superannuation funds have so much passive money flooding into the top 10 stocks that it has distorted price discovery, liquidity and valuations for the entire S&P/ASX 200. Big stocks are overbid and overvalued, while everything else is overlooked and under-traded.

Source: https://www.afr.com/chanticleer/the-day-cba-shares-crashed-back-down-to-earth-20260513-p5zwa8