FMG 0.87% $21.71 fortescue ltd

what a great strategy story

  1. veg
    324 Posts.
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    There once was a large Asian company who bought a lot of FMG shares when they were very very lowly priced. Then one day they decided to send over one of their executives to seemingly show interest in pouring good Asian currency into FMG and financially support it. They leaked news of this to the market, and got the market excited. With the news spreading rapidly the price of FMG rises to a great premium over their original interest and holding in the business.
    The clever little Asians then feed the market with stock which they purchased ealier,at much lower prices, for massive profits. And the Asians were happy that they ripped off so many Aussie investors. After they finish offloading all their stock, their representative travels back to Asia and releases to the market that their interest in investing has subdued due to the high level of debt in FMG.
    This in turn will drive the stock back down and guess who will be there again to "snap-up" the cheap stock ????
    Look out other resource stocks. How easy is it for this to happen.
 
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Last
$21.71
Change
-0.190(0.87%)
Mkt cap ! $66.84B
Open High Low Value Volume
$21.77 $21.80 $21.34 $408.6M 18.51M

Buyers (Bids)

No. Vol. Price($)
2 289875 $21.68
 

Sellers (Offers)

Price($) Vol. No.
$21.72 95078 4
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Last trade - 16.10pm 21/06/2024 (20 minute delay) ?
FMG (ASX) Chart
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