Don't you mean. Thank god we don't listen to Citigroup. On the 8th march 2013 FMG price was $5.44. Near its highs. And guess what Citigroup had a buy recommendation.
"21 February an analyst at Citi noted the asset sales could increase the company’s operating costs. Along with CIMB Securities and BA-Merrill Lynch, Citi has a BUY recommendation for Fortescue."
http://www.thebull.com.au/premium/a/36213-playing-the-price-of-iron-ore-in-2013-and-beyond.html
So we have a buy reco from Citi when FMG was at the highs. Now we have a sell reco from them now that they are at their lows. So glad you believe that Citi's recommendation is based on evidence. lol
When Citi was telling us to buy at their highs I was shorting. Now they say sell I am buying. Citi have always got the IO price wrong. So why now do we suddenly believe them.
How many percentage will drop?, page-80
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27.0¢ |
Change
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Mkt cap ! $778.8M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 27.0¢ | 26.5¢ | $76.54K | 285.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 77168 | 26.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 185346 | 4 |
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