It's about 1 PM (EST) on Tuesday, May 23. AMX is currently up about 20 cents on the day.
Watch AMX gain momentum throughout the afternoon and close with a nice gain for the day.
The emerging market funds will fall sharply in the near term. Latin American growth is way overhyped and most countries in the region are still relatively poor.
Ther is no way AMX will ever see $40 again.
Limited growth ?? Haha ... nice try.
If the growth is so limited, why is AMX the number one holding of almost every Latin Mutual fund and ETF ?
Nobody is bailing... that is what they want you to think !
Do you really think the Latin economy changed radicaly in a week ?
They pulled this poor Mexican market/economy a few monthes back... look what AMX share price and earnings did in the meantime.
AMx had a nice rally in the morning and now it is tanking.
It is time to face reality, this stock is crap. Investors and institutions are pulling out.
On a day when most stocks are rebounding, AMX is sinking. With limited growth, AMX will be back in the 20s soon.
I am long and not trying to talk this stock down, but I wonder if this is a sign of a more fundamental shift out of LA / emerging markets -- i.e. why no participation in the rally today. It gives me a bit of concern. Too little evidence to say for sure at this point. Several stocks are not participating and some are domestic.
But also note a recent reuters newsclip from a few days ago:
"The critical question going forward for everyone is to what degree is this a correction or to what degree is this a change in tendency," said Felix Boni, head of analysis at Scotiabank's brokerage in Mexico City.
"I would also say the fact we didn't have that much of a rebound on Friday in the Dow and here in Mexico would suggest ... there is something more serious going on," Boni said.