On March 16 last year, someone paid $5.50 for a parcel of shares in Fortescue Metals Group. It was the peak price on the day. Nine trading days later, on March 31, someone paid $2.83 for a parcel of FMG shares. It was the low price for the day. But that gap of $2.67 a share, which translates into a decline of 48.5 per cent in less than two weeks, is what Briefcase believes will have attracted the eye of the shareholder sharks.
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