This company is at the 'pinnacle' of speculation, (pardon the pun if you find one, because I certainly do!). Opinion: It was a bet on iron ore prices, that's it. People who bought in this stock did not buy into FMG's business model. A relatively recent article: http://www.businessspectator.com.au/bs.nsf/Article/Short-sellers-hack-into-Forrest-H6RJ2?OpenDocument
describes how FMG has been used by hedge funds as a proxy for the falling price in iron ore.
Apart from macroeconomic factors, the company allegdly has its own issues with expansion (see article)
As for Mr Frankhalo, sir you sure do sound like you are, what they call, 'married' to the stock. For better or for worse! Good luck and happy trading.
This company has still has a mountain of debt! (Reference: Commsec research page on FMG!)
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The aforesaid is non expert opinion. I disclaim all liability that may incur as a result of any reliance or decisions made due to what I have written or what may be imputed as a result. Seek your own advice.
This company is at the 'pinnacle' of speculation, (pardon the...
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Last
$21.82 |
Change
-0.590(2.63%) |
Mkt cap ! $67.18B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.19 | $21.80 | $110.2M | 5.031M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11208 | $21.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.82 | 8653 | 1 |
View Market Depth
| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |