FMG 2.02% $25.70 fortescue ltd

RVM, I know you said above $2, but really your target needs to...

  1. 2,892 Posts.
    lightbulb Created with Sketch. 96
    RVM,

    I know you said above $2, but really your target needs to be above $3 to justify risk of buying at $1.70.

    Say $2.50 target from $1.70 purchase price. Taking out of heavy tax (holding less than 1 yr due to market volatility) and fees, why taking the risk of small net profit? A lot of profits (if any) will go to government and you are taking all the risk, why bother help Malcolm T to bring budget to surplus?

    Current volatility, most people will be scared to hold for more than 1 yr so capital gain tax (if any) will be 40% (TAKE MASSIVE RISK OF YOUR MONEY TO HELP GOVERNMENT). Clearly (to me) even if target at ABOVE $3 (THREE), $1.70 purchase price risk is too high for tiny reward (of those almost HALF to someone's pocket eg brokers and government).

    Anyway, I don't FMG will go bankrupt. BUT... BUT will not be pretty for holders. Eventually, they will have to sell assets, placement (at massive discount and dilution), etc. Depending how much dilution, like AGO diluted to nothing in order to survive.

    Just IMHO.
  2. This thread is closed.

    You may not reply to this discussion at this time.

 
watchlist Created with Sketch. Add FMG (ASX) to my watchlist
(20min delay)
Last
$25.70
Change
0.510(2.02%)
Mkt cap ! $79.12B
Open High Low Value Volume
$25.58 $25.78 $25.39 $142.8M 5.570M

Buyers (Bids)

No. Vol. Price($)
1 1 $25.63
 

Sellers (Offers)

Price($) Vol. No.
$25.75 3050 3
View Market Depth
Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
$25.73
  Change
0.510 ( 2.20 %)
Open High Low Volume
$25.57 $25.78 $25.39 738887
Last updated 15.59pm 29/03/2024 ?
FMG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.