Glencore Share Price (GLEN)

To Jondoyogi and anyone else thinking this share looks like a top up buy at this point you must be nuts, surely? Per s.j.w's comment on this board on 29.04 this share is plainly run as a commodity by those in the know, for constant 20% swings (or often worse to the downside). Stand by now for the next dump.

The movement in the sp in the three weeks since 12 April has had the distinct feel either of repeated manipulation positioning it for such - or people inside the bubble knowing something we don’t but which also points to the same outcome pending.

Since the high of 4.86 on 12.04.24 copper has continued to rise, by around 6% even allowing for the pull back earlier this week (which has reversed substantially today). Iron ore has been rising steadily. Ditto nickel etc.. Yet GLEN.L has fallen 6.4%.

There have been multiple days when the market has risen significantly and GLEN.L has been flat or down, often amongst the worst few stocks on the index and even as other commodity stocks rose. E.g. 22.04 - FTSE up around 1.75%, GLEN.L flat. Same last Friday - FTSE up 0.75%, copper still rising, GLEN.L flat again.

Then this week it finally falls over fully. Tuesday it overreacts to the pull back in copper on the day, having not followed copper up repeatedly since 12.04. Yesterday - even allowing for the fact that it went ex-distribution (of whatever trivial remnant of one is left at this point) – it underperformed the market yet again, by over 1%. Then today, the last straw. Copper back up by 1.5%, market up 0.5% and down it goes once more, this time finally breaking through the April 5 level.

Worse, right on cue when you just cannot see what could possibly produce another such down day, we now get the AAL.L bid rumour being fully aired. (On which AAL.L rose nearly 5% this morning then collapsed vertically this afternoon.)

Add all this up and anyone betting against this falling back at least into the 420s promptly after today would have to be very brave. Hence why I am posting, which I do very infrequently.

PS - Obviously before you touch this share you now also need to factor in the other piece of choice dogsh*t that dropped this week. We now learn (what a surprise) that the supposed grand saviour of the share – spinning out the coal assets post-Teck so that that valuation millstone is lifted – is apparently now opposed by major shareholders.

So Teck in the end is apparently going to result in GLEN.L actually substantially increasing it ongoing exposure to coal! Brilliant, so it becomes permanently uninvestible for many institutional shareholders; i.e. it likely causes a permanent re-rating of the sp downwards.

The current shareholders apparently just want the company run as a cash cow, taking fat cash payouts on the coal. Err, while their capital slowly disappears, trapped in a share that no one else will touch?? And good luck with milking the cow. The distribution has just been slashed,

It will be entertaining if they Do DT,

I can't wait:)

Seems the consensious is 'dont do it glenda'.

Prob means they flippin will, grrrrrr

Sorry but Dream on Glencoe, apart from not being able to afford it, Anglo has huge transport problems in SE,

Poor roads and rain links, that why the SP has been dropping fot the last 3 years ,

Glencoe always throw their hat in the ring when the talk of a take over,

Sorry jmo. .

Eviking.

Any views on what will happen to the sp when the company stops buying Russian coal?