The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has shed more than 5% today. In early afternoon trade, it's down 5.53% at $33.84.
That compares to a 0.67% decline in the S&P/ASX 200 Index (ASX: XJO) at the time of writing, so it's a significant underperformance.
Soul Pattinson is an investment house that has been operating for more than a century. It's invested in numerous assets, but there are three key assets that are significantly larger positions – New Hope Corporation Limited (ASX: NHC), Brickworks Limited (ASX: BKW), and TPG Telecom Ltd (ASX: TPG).
Indeed, hits to any of those holdings can hurt the underlying net asset value (NAV) of Soul Pattinson. So, how are they doing today?
The New Hope share price is currently down 0.64%.
The Brickworks share price is down 2.05%.
The TPG share price is down 0.71%.
Soul Pattinson share price returns to normal
If we look at the ASX 200 stock over the last month, it's up more than 5%, as we can see on the chart below.
It's worth noting the investment house saw a 6.6% spike on Friday, with no market-sensitive news announcement to justify such a large gain.
Today's decline of more than 5% means the Soul Pattinson share price has gone back to last week's pre-Friday price, undoing the spike we saw on the last day of the trading week.
Since Thursday, the Soul Pattinson share price has risen 0.8%, which sounds much more reasonable if we ignore what's happened in the last two trading days.
What could happen next?
No one knows what the Soul Pattinson share price (or any share price) is going to do on any given day or week.
However, the company is scheduled to release its annual result for the 12 months to July 2023 on Thursday, 28 September 2023. This could have a sizeable impact on the Soul Pattinson share price if it's better (or worse) than expected.
For the foreseeable future, investor confidence about the Soul Pattinson share price and its underlying investments could dictate whether movements are positive or negative.
Soul Pattinson share price snapshot
Since the start of 2023, the ASX 200 stock has risen more than 24%, while the ASX 200 has risen 4%.
