I shorted FMG at 41.10 this morning. Still holding a small short from a couple of days ago though.
I just think as a NON producer, FMG will get reweighted the hardest until production - if iron ore demand slips due to global inflation. The risk alone should cause a re-valuation on the SP. (this is not saying I don't like the company and what Forrest is doing for the community) just saying a reweighting in iron ore demand is a possibility and risk will be priced.
Quite happy to hold this pos for a few weeks though.
But please DYOR.
I'm not long in this market and still have a bearish sentiment on it.
credit probs now old news inflation is the new, page-3
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$66.80 |
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Mkt cap ! $12.95B | |||
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