Despite bringing together all minds, including those in instos. and small retail holders, 'Mr Market' can be unduly harsh, fallible and myopic.
However his initial reaction to FID's interim was very negative, with the SP down a whopping A$0.45 (6.39 per cent) to A$6.59.
Looks as if he's punishing the underperformance to which Mr Indy Singh admitted.
FID is often thinly traded (or sometimes not at all) so today's volume of 118,200 was fairly high if I'm not mistaken. Hence the drop in SP has more validity than if it was some 'widow or orphan' selling 500 shares.
It'll be interesting to see if after his standard G&T tonight, 'Mr Market' reflects and considers 'maybe the result was the basis for future good performance' and hence decides to turn sanguine.
FID Price at posting:
$6.59 Sentiment: Hold Disclosure: Held
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