Morningstar knocked FXL down to a fair price of $2.80 after the announcement, from $3.00 previously. In their words, FXL are 'perennial disappointers', and I wonder if this attitude prevails in the insto world ....
A release like this, with the tax time write-offs happening, may have pushed the instos out of the stock, and the sp has gone down accordingly.
I really think there is a long, long road back ... faith has been lost, and it probably doesn't matter what they do or say, the track record is now so poor that there is a huge PR job to do before there are any buyers .... notwithstanding any juicy dividends.
FXL Price at posting:
$1.96 Sentiment: Hold Disclosure: Held
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