"This time last year FMG was about 5.40 and at about 70 a tonne for Fe.
A year later the FMG share price is 1.82 and FE is about 48 a tonne."
The difference is at 70/t FMG is making a profit and repaying loan with interest.
At 48/t... FMG is losing money and will need to raise capital to repay loan or Voluntary Administration. A company is losing money with every tonne shipped, sp should be $0.00. But people are HOPING this will not last long, FMG might survive.
I don't thing short-sellers are too blame, because at $1.80 sp FMG still valued MASSIVE $5.90 Billion for a business is losing money with every tonne shipped. If this continue, IMHO I wouldn't be surprise if trading at 10c or less.
Just IMHO.
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Last
$18.31 |
Change
0.340(1.89%) |
Mkt cap ! $56.37B |
Open | High | Low | Value | Volume |
$18.09 | $18.32 | $18.06 | $115.9M | 6.367M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 273 | $18.30 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.32 | 9260 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 273 | 18.300 |
3 | 60132 | 18.290 |
4 | 25728 | 18.280 |
1 | 100 | 18.270 |
5 | 11679 | 18.260 |
Price($) | Vol. | No. |
---|---|---|
18.320 | 9260 | 4 |
18.330 | 93689 | 6 |
18.340 | 11450 | 1 |
18.350 | 6778 | 5 |
18.370 | 21747 | 4 |
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