FMG going under is a very real prospect. You need to read this article from the SMH in April.
http://www.smh.com.au/business/renowned-shortseller-bets-against-fortescue-20120426-1xo0r.html
Jim Chanos who has bet against the Fortescue model looks like he has a crystal ball saying that the price of iron ore is in a bubble phase and will go back to $100. The 10 year chart where iron ore prices have increased 1000% certainly make for a convincing argument.
Nev Power from FMG said back then that it wouldn't go under $140
Well at $86 FMG is under water and there is no way it can succeed. Anyone holding FMG now is hoping that iron ore goes back up. Because unless iron ore goes back to where is was, FMG is finished.
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Last
$19.91 |
Change
-0.560(2.74%) |
Mkt cap ! $61.30B |
Open | High | Low | Value | Volume |
$20.75 | $20.75 | $19.86 | $232.1M | 11.48M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 119100 | $19.90 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.93 | 30 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 119100 | 19.900 |
2 | 1390 | 19.890 |
3 | 100523 | 19.880 |
5 | 6583 | 19.870 |
4 | 6525 | 19.860 |
Price($) | Vol. | No. |
---|---|---|
19.930 | 30 | 1 |
19.940 | 8000 | 2 |
19.950 | 16000 | 4 |
19.980 | 4000 | 2 |
20.000 | 19089 | 3 |
Last trade - 16.10pm 17/10/2024 (20 minute delay) ? |
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