This Is What Whales Are Betting On Freeport-McMoRan
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor, as indicated by a large position in the company's options. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $37.0 to $45.0 for Freeport-McMoRan over the last 3 months. Morgan Stanley has downgraded its action to Equal-Weight with a price target of $38.
August 08, 2023 | 3:01 pm
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A large investor has taken a bearish stance on Freeport-McMoRan, with big-money traders sentiment being 33% bullish and 66% bearish. Morgan Stanley has downgraded its action to Equal-Weight with a price target of $38.
The bearish stance taken by a large investor, along with the overall bearish sentiment among big-money traders, indicates a potential downward pressure on the stock price. Additionally, the downgrade by Morgan Stanley could further negatively impact the stock price.
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