This would have to be one of the most stupid releases to come out of AGI!
"Investments in Argentina of...A$13 million"...what the hell does that mean?
They state the "investments" have been made as an FX hedge regarding the Pesos v USD. Is this really a newsworthy announcement...I mean companies hedge against unfavorable FX movements all the time and don't feel the need to make announcements about it. I'm really curious to know what type of shitty "investment" the AGI brains trust has made this time? Given the CFO has stated "the company is pursing the necessary actions to protect its investments" it seems like the good folks at AGI made a crap "investment". Smells like the AGI brains trust is positioning themselves for yet another LTAM write down. It just never ends with AGI...never ends
AGI Price at posting:
$1.05 Sentiment: Sell Disclosure: Not Held
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