"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.
"This time last year FMG was about 5.40 and at about 70 a tonne...
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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 |
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| Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |