But for how long or more relevant how far can this stock seriously fall.
I know it depends on the price of Iron Ore.
But if prices stay where they are or drop a little bit further.... How low can this stock go.
I hold 62,000 shares bought at $ 2.23 average through comsec , and I trade occasionally through a CMC CFD account long only ( to scared to short as I am a positive person ) . Yes Yes i know you can make money shorting but it does not sit well with me , not morally or anything I just believe ( correctly or incorrectly ) that you can get caught out ( I did say forgive my naivety ).
Surely the stock must run out of sellers.
With over 50% not to be sold ( forest's share ( minderoo ), Hulan valin etc ).
If everyone who has stock now holds and those that buy hold . What happens to the price and the shorters ?
I can assure you I won't be selling my unleveraged 62,000 shares and their must be others.
FMG Price at posting:
$1.65 Sentiment: Hold Disclosure: Held
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