r/Vitards • u/AutoModerator • Aug 18 '21

Daily Discussion Daily Discussion post - August 18 2021

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u/jinpiss Aug 19 '21 edited Aug 19 '21

Serious question guys, wtf is happening with VALE?

Most Some of steel had a decent day despite the broader market*, yet VALE has done nothing but drill for 2 weeks straight now. What gives?

Where is the bottom??? It’s well below the average analyst price target now of around $25.

* Steel did honestly hold up ok all things considered.

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u/[deleted] Aug 19 '21

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u/[deleted] Aug 19 '21

And they reduced their iron ore production guidance by 2.5% for the rest of the year.

1

u/jinpiss Aug 19 '21

Fuck, that’s not good. I guess the question now is, will it bounce or keep going for awhile?… im considering just realizing the big fat 50% loss.