Think of it like a fund manager holding BHP, RIO or FMG.
They see the iron or price has gone up as have the SP's based on an iron ore price of say $130-$150/t when the long term price is more like $70. Now you don't want to be stuck with too much overvalued stock so you trim those and buy IGO actually up weight your IGO to more like index weight.
Given you're all acting in concert you not really taking much business risk i.e. looking like a twit/twat if you wrong.
Think of it like a fund manager holding BHP, RIO or FMG. They...
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Last
$5.64 |
Change
-0.230(3.92%) |
Mkt cap ! $4.270B | |||
| Open | High | Low | Value | Volume |
| $5.76 | $5.84 | $5.64 | $26.26M | 4.603M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 28870 | $5.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.65 | 27843 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IGO (ASX) Chart |