You have posted a 3 year chart. I stand by what I said yesterday. Since late March 2018 (2.5 years) ATM has underperformed the NZX All Gross index. I'm not debating whether ATM has been a great long term performer, that's not in dispute. The question everyone is very conveniently dodging is has ATM now matured into a much slower growing blue chip stock ?
I think its clear Geoff Babbage is sounding some notes of caution in their latest investor presentation.
I'll leave it at that because I think selective hearing and emotional attachment are prolific with this one.