After 5 days of CEO-confidence-inspired BTFD-ing (a la Bear Stearns), following the 30% collapse at the start of last week, Glencore's stock price is tumbling 7.7% in the early European trading. Following a deep plunge off the open yesterday (which was rallied back to the highs) and extreme volume atthe close, Tuesday's early weakness has pushed the stock to the biggest loss since last Monday's carnage...
The shares rebounded after the firm said its business is “robust” and it has secure access to funding.
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But it's not over...
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Charts: Bloomberg
