I am well aware that Chanos has been short for a while, but I still think that there is more to go. I dont think Chanos shorted FMG to cover at these prices.
If the Iron ore prices fall much further then FMG will be bleeding very much. FMG's huge debt levels will enough to cripple the company. Then we will be seeing FMG at 2008 levels....
China is in a lot of trouble, quite a lot of the big steel manufacturing companies are actually running at loss's, this can only go on for so much. Looks like a false economy if you ask me.
andrew forrest buys $20m, page-46
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Last
$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 45418 | $18.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 1200 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |