There's another mining company that's now doing even worse than Glencore this week
No other mining company fell by even half as much on the day.
So it's quite amazing that one mining company on the UK's FTSE 100 is now actually doing worse than Glencore this week.
As of 11:20 a.m. UK time (6:20 a.m. ET) Anglo is up by around 1.16%, after a small dip yesterday. Like Glencore, it tumbled on Monday, but unlike Glencore, it hasn't seen massive rallied on Tuesday and Wednesday.
Here's how it looks from Friday's close:
At the same time, Glencore has risen by as much as 11% today, an astonishing resurgence given that practically no news has driven it since the stock fell by an equally astonishing 29% on Monday. It also recorded a double-digit rise on Tuesday.
That means that since Friday's close, Glencore has actually dropped by slightly less than Anglo American:
Anglo American was actually named on the same Investec note that suggested Glencore's entire market value could be wiped out - if commodity prices don't rise, Investec's research suggested that both companies turn into nothing more than a vehicle for repaying their debts, eliminating the value of the shares entirely.
Research by Australian investment bank Macquarie also said that Anglo American's earnings-per-share are second-most exposed to commodity prices out of the major mining companies this year (looking at BHP Billiton, Rio Tinto, Glencore and Anglo American):
The analysts at Macquarie added that "Anglo American's sensitivities in the table below are generous and would be significantly higher if 'spot diamond' prices were used in our analysis."