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my thoughts is its all down to double river selling their converted loan stock. looking over the volume for the past two days i think they'll be finished mid next week. with both days pulling in 18-20M trading volume you would expect the up to 10M of loan shares thats been converted. so about half way. if volume continues like what we have for tomorrow and early next week should flush them out.
same thing happens on aim markets when a big seller usually a ii wanting out of a stock or placing stocks hit the market theres huge selling pressure until thier cleaared. as long as theres buying volume the sells will dry up. same with CNEL. double river are looking for a quick return and anything above the converted price is orofit and they will be willing to take with the usual minimum 10%+.
so i think next week should see the bounce towards at least listing price
Hi all, just a thought following my post back in early june.
Don't know the reasons behind the downward trend, but again ive seen many IPO's go in high then decrease...at least thats what I see on HL graphs with companies (say those that have come in within the last 5 years).
Again no real evidence/reasons to back up this theory, but most graphs ive seen on HL where a company enter the market high then decreases/plummets is not unusual (of course cnel is a different case - but it looks like it followed the same trend)
I think this is a matter of personal risk tolerance, if you buy at 4p even you have a long way for that to come down from 11p before you make a loss.
Personally I will be siting on them a while however if I was very cautious I would sell a proportion of them. Even if they dip from 11 I think they will rise first.
It is a good point. I am working on the basis that as a profitable company, they should be able to hold a PE ratio of 15 which i believe is the average for the HKEX. That would be about 22.5p. (e.g. New PE of 15 divided by current PE of 2 = 7.5. Therefore current price of 3p times 7.5 = 22.5p).
Hi all,
Fingers crossed the HK listing happens etc.
However if it does happen, just wanted to get everyone's thoughts on whether they would sell or keep.
Reason I ask is because doing some research i see that some shares that get introduced/put on a listing, start high (presumably because of a minimum entry e.g. 11p on hk listings) then they plummet back down...and then of course over the coming weeks/months/years they (hopefully) start to rise again - so would make sense to sell at listing then buy back if they go down? Of course there are some shares that enter and never drop, in that sense, would be better to hold on to them.
I hope you read this as a genuine question/after thoughts if HK listing happens and what people would do and not see it as speculation/deramping/ramping or anything other than thoughts and opinions. GLA