I would assume that the reason why there is no statement from Glencore is because they are probably busy trying to sort out the company.Their relationship with debtors is more important than the brokers or shareholders Unless they have something to say that will benefit the markets there is nothing to say. Remember this drop is because of investec and their analysis.
Selling has slowed. I am prepared to wait until commodities recover or this goes bust. Either way there is no safe place for you cash. If the global economy fails, then your money will be worthless anyway. All those ramping AIM casino shares should be all over this...
If Glencore goes bust it will be a very sad state of affairs. It shows that the global economy is failing. This means that you might as well burn the money you have, as it will be worthless anyway. As Glasenberg has stated, the markets do not understand his business model, he would have been better keeping this company off the stock market and then he could have fallen on his own sword rather than being ravaged by the brokers and shorters.
I don't like what is happening with this share at all. I have many holdings as this is the most worrying. If things don't reverse pretty soon this will be back down around the 2p mark. If that happens I will never buy this company again, as I wont trust them.
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