Chanticleer
Fortescue’s hydrogen back-flip fails to become sugar hit it should be
One of the issues hanging over the miner is partly gone. So why aren’t fund managers jumping in? They may be more concerned by the company’s other big problems.
Three things scare Australian fund managers and sell-side analysts off Fortescue. Andrew Forrest removed one of them, and yet no one’s paying attention.
The most surprising thing on the ASX on Thursday was the way investors overlooked Fortescue’s big news. Its promise to get back to its leaner and meaner roots and ease off its green energy expansion had the stock down 1.2 per cent in afternoon trade, while brokers barely mentioned it in their morning notes.
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