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$20.34 fortescue ltd

I think the Capital group is just the holding company for a lot...

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jb206

3,358 Posts.

1036

24/06/24

10:10

Post #: 74454069
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Originally posted by jhunt: ↑

Just very clever. This is the same group that recently sold 50 million shares at $21.60. They now have 154 million shares. So it could be, since their holding is now much larger than the block they sold, they had an interest in ensuring the market helped drive down the price, at volume, for a larger chunk of stock?

Create a bit of a scare, shake the tree, buy back a lot more stock at a lot lower price than was otherwise possible? That's what you can do when you have a lot of capital. Of course, there has to be some media stuff going on about troubles at the target company, low iron ore price, etc, etc.

Acually, this is pretty good news, short term, as the deal is now out. So, they are not sellers, in fact, they appear to be net buyers, and they should be looking to hold for the divvies. Very clever. Divvies at that level will be what, north of $154 million AUD?

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I think the Capital group is just the holding company for a lot of banks, e.g. JP Morgan, StateStreet.

JP Morgan is the one selling down, the others may be increasing.....

FMG Price at posting: $21.61 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $20.34		Change 0.940(4.85%)		Mkt cap ! $62.82B

Open	High	Low	Value	Volume
$20.26	$20.49	$20.08	$235.9M	11.67M

Buyers (Bids)

No.	Vol.	Price($)
23	11346	$20.34

Sellers (Offers)

Price($)	Vol.	No.
$20.35	7699	17

View Market Depth

No.	Vol.	Price($)
11	9677	20.350
31	12671	20.340
25	15845	20.330
18	8689	20.320
14	9477	20.310

Price($)	Vol.	No.
20.360	8033	18
20.370	10766	13
20.380	8981	13
20.390	14530	13
20.400	22967	12

Last trade - 15.06pm 27/09/2024 (20 minute delay)

FMG (ASX) Chart