Yes FMG has fallen hard on no news. Tax selling maybe? But in an efficient market that shouldn't matter as longs would swoop in to buy discounted shares to keep it trading at intrinsic value.
Or maybe it's Chinese sellers. Their own stock market crashed 20% recently. Maybe some legs are turning to jelly and they're selling their overseas holdings as well...
One ratio I look at for FMG is IO/FMG price, a blunt measure admittedly. Typically the ratio has been trading 25-27 band. But over 30 at the moment (61/1.99). So if there is no bad news coming it would certainly look cheaper at the moment based on this metric.
Cheers.
fmg - wtf, page-15
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Last
$18.29 |
Change
0.150(0.83%) |
Mkt cap ! $56.31B | |||
| Open | High | Low | Value | Volume |
| $18.14 | $18.38 | $18.02 | $164.0M | 9.002M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10275 | $18.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 2897 | 2 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |