The Magellan Financial Group Ltd (MFG) share price is suffring from the painfull red candles.
On The 4th November The Magellan Financial Group Ltd Hits a new Low Of 9.40AUSD At 10.30Am. Magellan Financial Group Ltd Is suffering From the new Lows created On The Australian Exchange, Magellan Financial Group Ltd was trying To recover on 4th November But the recent Trend Is bearish and the trend does Not alow the MFG To get back the Price,
Why is the Magellan share price falling From August Month 2022?
As we Disccused in The RBA Interest rate hike article.The market Need To Correct .After The Hiking The Price Of Interest The Complete Effect Can Be Seen On the Chart Of ASX The Market Falls From 6988 To 8614 Withing 30mintuts Of opening The market.
The MFG Stock Price Is Also Goes Down Due to This reason, Because the Investors Of The Magellan Financial Group was hitting the sell button on Friday after the fund manager Of Magellan Financial Group Has released its latest funds under management (FUM) update
After reporting net outflows of $3.6 billion in the September Month 2022, Magellan Financial Group followed this up with net Cash Bleeds of $2.4 billion in October 2022. This comprised to net retail outflows of $0.4 billion and net institutional outflows of $2 billion.
As a comparison of The last year, Magellan’s FUM was $114.8 billion at an AUD/USD exchange rate of 0.7511. That’s a 55% decline in the company’s FUM before taking currency benefits into account. Oh, how the mighty have fallen
From The last two Month Ausut And September 2022,MFG is Not Doing Well and The Higest price In The August Month Of MFG was 15 Ausd But From The August Month Could not remains Its High And Making New Low Every Day .
The MFG Reachs Its 5th July 2013 price And it Cold Be Make New low In upcoming weak So Try to Sell The Holding Amount.
Is It Right time To Buy Or Take Entry In Magellan Financial Group Ltd (MFG) ASX News?
The Magellan Financial Group Ltd (MFG) I Falling Continues From last two Month and there Is No pull back coming from The Down Side.when Its from a new double bottom or Any New Price Action or The Finacial condition of The price can be Better then can be Think fo invest till now wait for recover amount.
Quarterly financials Detais of MFG Share Australian Stock exchange
|Net profit margin||86.92%||439.54%|
|Net change in cash||6.42Cr||201%|
|Cash on hand||–||–|
|Cost of revenue||2.32Cr||28.14%|