I've been wondering that too, it's been suffering more than most other stocks on my watch list and found it curious. I just found this Motley Fool article though:
The Magellan Financial Group Ltd (ASX: MFG) share price dropped 6.3% to $23.35 as investors bet that equity market falls will take a toll on the fund manager’s funds under management (FUM). Most fund managers charge a percentage of FUM as their fee, so lower FUM means lower revenues. However, Magellan’s share price has now lost more than 16% year-to-date – double the losses on US and Australian share markets – suggesting it may have been oversold.
https://www.fool.com.au/2016/01/18/4-shares-sinking-on-the-asx-today/
I sold out at $26.36 several weeks ago because I needed the funds elsewhere. Glad I did now! Looking to get back in at some point when things look more stable.
I've been wondering that too, it's been suffering more than most...
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Add MFG (ASX) to my watchlist
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Last
$11.39 |
Change
0.115(1.02%) |
Mkt cap ! $1.740B | |||
| Open | High | Low | Value | Volume |
| $11.19 | $11.45 | $11.18 | $2.892M | 254.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1005 | $11.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.39 | 2487 | 16 |
View Market Depth
| Last trade - 12.39pm 04/12/2024 (20 minute delay) ? |
| MFG (ASX) Chart |
