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.
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I've been wondering that too, it's been suffering more than most...
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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. |
---|---|---|
$10.81 | 2532 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 48 | 10.740 |
4 | 9639 | 10.720 |
3 | 9643 | 10.700 |
1 | 2453 | 10.680 |
2 | 3390 | 10.670 |
Price($) | Vol. | No. |
---|---|---|
10.810 | 2532 | 2 |
10.820 | 2426 | 3 |
10.830 | 2453 | 1 |
10.840 | 3029 | 1 |
10.850 | 21255 | 7 |
Last trade - 16.10pm 15/10/2024 (20 minute delay) ? |
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