The prevailing trend over the last few months is that SP has a...

The prevailing trend over the last few months is that SP has a fair bit of manipulation going on. Pip traders, game players, whatever reason it’s been happening.
But in terms of fundamental analysis, this is a rock solid, well run company that has been rerating every time a significant goal has been achieved.
It would be nice if FEX had a far larger % of the top 20 holding stock, but it is what it is. That would help minimise the manipulation that keeps occurring IMO.
But for those willing to be patient, the continued rewards will come. If dalian futures continue to hold a similar price to what they are now, simply put, when the September 4C is released, FEX will have around $80mil in the bank, and not $100mil IMO because I assume they’ll be paying a fair chunk of company tax by then.