Down 19%! Is the GQG share price selloff an overreaction and buying opportunity?
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The GQG Partners Inc (ASX: GQG) share price was sold off on Thursday.
The fund manager’s shares ended the session 19% lower at $2.13.
The catalyst for this was news that Indian billionaire Gautam Adani has been charged with fraud in the United States.
The chair of Indian conglomerate Adani Group has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.
This is bad news for GQG as it has made significant investments in the Adani Group in recent years. But is a 19% share price decline an overreaction? Let’s find out.
Is the GQG share price selloff a buying opportunity?
Goldman Sachs has been looking at the news and appears to believe that the fund manager’s share…
