Not really. It's a long term strategy. Run production at 110%, lower prices, drive out high cost competition, buy up the distressed assets, cut production, lift prices, profit.
No doubt quite a few short sighted investors have been burnt. Still more to fall IMHO.
Myself, I'm sitting on the sidelines waiting for a few more signs that the bottom is here before buying into the next boom. Stanmore Coal (SMR) is opening up early next year, a good sign that we are getting closer to the bottom. I'm waiting for a few more signs to buy, among them the imminent collapse of the (former) global giant AngloAmerican. See how the dust settles after that one...
Is BHP the First Aussie Co to Lose $100B in Value, page-2
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Last
$42.66 |
Change
-0.040(0.09%) |
Mkt cap ! $216.3B | |||
| Open | High | Low | Value | Volume |
| $42.65 | $42.85 | $42.50 | $345.8M | 8.109M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 7200 | $42.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.67 | 2000 | 1 |
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| Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |