Almost $500 difference in the price of gold where large chunk of it falls into increase in earnings. Other producers are in a similar situation.
My only uneducated take on this is that money is flowing into other stocks because stock market just keeps on going up and people see more short term increases (basically FOMO) in the likes of TESLA that is now valued around the same as Ford and GM combined.
2018 - Ford 5.9 million cars 2018 - GM 8.4 million cars 2018 - GM+Ford 14.3 million cars
2019 - TESLA 367,200 cars
I couldn't easily locate GM and Ford sales for 2019 which I think declined by a small percentage.
Anyway, seems to me that right now money is flowing in the same direction as market expects the stocks to continue making new highs.
However, if things were to reverse exit doors will be very narrow for the shareholders trying to run from some of these bubbles.
This is only in my opinion, not offered or to be taken as financial advice. Not recommendation. Do your own research.
RRL Price at posting:
$4.20 Sentiment: None Disclosure: Held
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