I've been wondering that too, it's been suffering more than most other stocks on my watch list and found it curious. I just found this Motley Fool article though:
The Magellan Financial Group Ltd (ASX: MFG) share price dropped 6.3% to $23.35 as investors bet that equity market falls will take a toll on the fund manager’s funds under management (FUM). Most fund managers charge a percentage of FUM as their fee, so lower FUM means lower revenues. However, Magellan’s share price has now lost more than 16% year-to-date – double the losses on US and Australian share markets – suggesting it may have been oversold.
https://www.********.au/2016/01/18/4-shares-sinking-on-the-asx-today/
I sold out at $26.36 several weeks ago because I needed the funds elsewhere. Glad I did now! Looking to get back in at some point when things look more stable.
SP, page-2
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$10.79 |
Change
0.370(3.55%) |
Mkt cap ! $1.929B | |||
| Open | High | Low | Value | Volume |
| $10.45 | $10.82 | $10.40 | $8.490M | 795.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 48 | $10.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.81 | 2532 | 2 |
View Market Depth
| Last trade - 16.10pm 15/10/2024 (20 minute delay) ? |
| MFG (ASX) Chart |