Its this simple
Fertilizer prices are hyperinflating. Last time this happened IPL provided a very effective hedge to farmers who took exposure. This time around the case to own is not so compelling.
IPL's perceived positive correlation and leverage to this broader fertilizer story is less than perfect since the East Coast gas situation is far from perfect. In short, the cost base is exploding with gas prices.
Not the no brainer play it was in 2007 and hence this rally is far from the former heady days.
What's going on with IPL??, page-18
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Last
$2.96 |
Change
0.000(0.00%) |
Mkt cap ! $5.748B | |||
| Open | High | Low | Value | Volume |
| $2.99 | $3.00 | $2.91 | $19.44M | 6.587M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 118149 | $2.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.96 | 125288 | 5 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$2.95 |
Change
0.000 ( 0.27 %) |
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| Open | High | Low | Volume | ||
| $2.97 | $3.00 | $2.91 | 872972 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| IPL (ASX) Chart |