Glencore’s Betrayal: Is This FTSE 100 Giant Out to Ruin My Retirement?
SHOCKING STOCK PLUMMET! Glencore Shares Are an Investor’s Nightmare!
Folks, I’m starting to think that Glencore (LSE: GLEN) shares have it out for me! Seriously, can you believe the nerve of this mining behemoth? After wreaking havoc on my self-invested personal pension, I’m convinced they are determined to rain on my retirement parade!
Sure, Aston Martin and Ocado Group may be cranking up the misery levels even higher, but let’s be real—Glencore has a special knack for driving me to the brink. Over the last year alone, their shares have nosedived a staggering 14.5%, but my personal losses? They’ve soared past 30%! What did I ever do to deserve this wickedness?
Can Glencore Finally Show Me Some Love?
All I’ve ever done is shower this giant with unfailing praise! I’ve written countless articles singing Glencore’s virtues—talking up its mining prowess and commodities trading like it’s the hottest thing since sliced bread.
It’s not their fault! China is pulling back on its purchases, and the world’s second-largest economy is hitting the brakes! I genuinely believed the tides would turn, especially with talk of recovery and the booming demand for lithium, copper, and rare earths!
Yet, here I am, nursing my wounds as the Glencore share price took another gut-wrenching 10% dive just last month. Sure, it’s not as horrific as Aston Martin’s 20% plunge or Ocado’s 16% freefall—but still, the betrayal is palpable!
In a wild twist, on February 19, the Glencore board pulled a dramatic stunt, entertaining the idea of ditching London for the glitzy streets of New York! CEO Gary Nagle was hoping to find “the right valuation.” But guess what? Instead of a revival, the share price took another nosedive! If a transatlantic switcheroo can’t save Glencore, what on Earth can?!
Hope for Dividends on the Horizon!
And just when I thought it couldn’t get worse, Nagle announced a shocking drop in annual core earnings, with coal prices in the toilet! Analysts had predicted a drop to $14.55bn. What did they get? A mere $14.36bn—that’s a bone-crushing 16% decline year-over-year! Nothing like a little dose of despair to keep investors on their toes.
But hold on! There may be a glimmer of hope as the board prepares to open the coffers with a massive $1.2bn dividend payout and a $1bn “top-up” share buyback before the first-half results are unveiled on August 6! Cue the applause! Plus, with a juicy $4.8bn of free cash flow up for grabs, I have just enough incentive to keep my sanity intact…and my shares (for now!).
So, while I have no clue when or if the share price will stop tormenting me—months or maybe years of anguish seem to loom ahead—I’ll hold onto the hope that Glencore isn’t just playing me for a sucker. Will they turn things around, or is more misery in store? Stay tuned!
