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BHP has now edged ahead of CBA in market valuation, standing nearly $3 billion higher at $254 billion. This comes despite CBA’s valuation of $251.5 billion, which saw a modest increase during today’s trading session.
The latest data reveals that BHP’s stock price climbed to $50.060 per share, marking a 0.62% uptick today. In contrast, CBA’s shares experienced a smaller rise of 0.15%, even though they are individually more expensive.
BHP’s superior valuation can be attributed to its wider shareholder base, with around 5 billion shares owned compared to CBA’s 1.67 billion.
In November, CBA held the top position on the ASX, boasting a share price close to $180.
However, a sharp decline over the past three months has seen its share price drop to approximately $150. Meanwhile, investor confidence in BHP has grown, with its shares recovering from a November low of $40.62.
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