greyhound, the sell-off is probs due to the weak lead from Wall St overnight. The big funds, ie. the short sellers of late, were concerned about a capital raising, which is too costly when compared with debt financing. Equity forces a higher required rate of return vs debt. Debt finance is cheaper for a profitable business, like FMG, since it has a solid cash flow stream and interest payments can be used to lower your taxable profit.
imo the fact that the offering was oversubscribed is great news, and with a positive lead from the US we will see this baby back above $5 in no time.
greyhound, the sell-off is probs due to the weak lead from Wall...
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Last
$18.60 |
Change
0.200(1.09%) |
Mkt cap ! $57.26B | |||
| Open | High | Low | Value | Volume |
| $18.40 | $18.68 | $18.34 | $157.0M | 8.476M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10105 | $18.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.60 | 17942 | 8 |
View Market Depth
| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |