My goodness, what a suppressive couple of days it's been for this sector and kinda stupid as well - if the market sells off on concerns about inflation, it's kinda dumb to also sell down the stocks that are profiting from that inflation.... only for the market to go back up and for these stocks to be left behind with their respective commodity prices still around highs or record highs.
I'll belt delusional weed-smoking bulls around the head every day of the week, but I'll call out BS on the downside as well and this is BS.
These stocks should not be going down because of the IO price fall, because that IO price is well above the valuations that support the current share price.
Ultimately it's not shorters that are the problem, it's dumb retail investors who just blindly follow the IO price.
Iron ore price, page-31942
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$17.49 |
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Mkt cap ! $53.95B | |||
| Open | High | Low | Value | Volume |
| $17.34 | $17.56 | $17.13 | $141.9M | 8.137M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 286 | $17.45 |
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| Price($) | Vol. | No. |
|---|---|---|
| $17.49 | 26714 | 5 |
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