Fortescue plummets after US investor offloads massive stake

by Pelican Press
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Fortescue plummets after US investor offloads massive stake

Fortescue shares plunged to their lowest since November 2022 after a US investor offloaded nearly $2 billion worth of stock in the Andrew Forrest-led company on Monday night.

Behind the mammoth block trade was Los Angeles-based financial services business Capital Group, which was offloading its Fortescue stake at $18.55 per share, according to Bloomberg, a close to 9 per cent discount on the stock’s Monday close price.

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