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$19.73 fortescue ltd

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

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jb206

3,399 Posts.

1044

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 $19.73		Change 0.760(4.01%)		Mkt cap ! $60.74B

Open	High	Low	Value	Volume
$19.11	$19.90	$19.11	$207.2M	10.61M

Buyers (Bids)

No.	Vol.	Price($)
1	55717	$19.73

Sellers (Offers)

Price($)	Vol.	No.
$19.76	15000	1

View Market Depth

No.	Vol.	Price($)
1	55717	19.730
1	48855	19.710
2	20932	19.700
2	27174	19.690
1	1000	19.680

Price($)	Vol.	No.
19.760	15000	1
19.790	3715	1
19.800	2400	3
19.840	4500	2
19.850	18050	2

Last trade - 16.10pm 10/10/2024 (20 minute delay)

FMG (ASX) Chart

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