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Down 37% in 2024, is it time to buy or sell Fortescue shares?

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Update time : 2024-08-12 15:42:06
The Fortescue Ltd (ASX: FMG) share price has been one of the worst performers in the S&P/ASX 200 Index (ASX: XJO) this year, down by 37%. The ASX 200 has risen by 2.4% this year, so there has been significant underperformance.

However, after such a major decline, investors may wonder whether to cut their losses or see this as a buying opportunity.

It's clear that the iron ore price crunch contributed significantly to the decline in the Fortescue share price. The commodity price has fallen from above US$140 per tonne to almost US$100 per tonne today.

Cyclical declines could lead to opportunities for brave investors, but this may also represent a good enough price to exit. Let's look at what two experts with opposing views think.

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