All this aside the huge elephant in the room for me is the Capital Group. Why have they taken such a large position at around 2.4 a share. Surely they are not dummies. We can speculate all we like about what is going on but that's all it is.
FMG has now risen in the ranks to be in the top 3 of most shorted stocks on the ASX. Have a look at the short interest over a 12 month time frame.
http://www.shortman.com.au/stock?q=fmg
Its pretty much the share price chart inverted. And it all has to be unwound at some point. Its a high risk play on the long or short side IMO.
All this aside the huge elephant in the room for me is the...
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |