FMG is gone. This is the proverbial run on the banks for Fortescue. There is blood in the water now with debt covenants getting smashed and Twiggy pleading for time from the banks.
It just took an article in the Financial Review to point out the obvious and bang 15% down in one day. There will be more volatile bounces in the weeks and months ahead but the FMG train is crashing in front of us.
Too big to fail? Don't bet on it. A failure of this magnitude is going to rock Australian mining and the ASX.
fmg the lehman of the commodities bubble?, page-58
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Last
$20.14 |
Change
-1.180(5.53%) |
Mkt cap ! $62.01B | |||
| Open | High | Low | Value | Volume |
| $20.65 | $20.83 | $20.02 | $262.9M | 12.91M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1250 | $20.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 2500 | 1 |
View Market Depth
| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |