Shouldn't be causing this much volatility so far after an announcement like that. I'm guessing the shareholder base is fractured at the moment as FMG seems to want to spend more on FFI and break previous capital allocation promises and well that favours investors that want growth but would really annoy investors that have invested for income.
Also FFI is impossible to value, so all the market can value now is the cash burn and what that cash burn returns is a complete guess so maybe that explains some of the valuation volatility.
Iron ore price, page-50441
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Last
$18.88 |
Change
-0.210(1.10%) |
Mkt cap ! $58.13B | |||
| Open | High | Low | Value | Volume |
| $19.25 | $19.26 | $18.80 | $114.8M | 6.045M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2485 | $18.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.91 | 185 | 1 |
View Market Depth
| Last trade - 16.10pm 06/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |