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Well this aged well…
“ Buster_Pila
Today 06:51
Price: 157.00
£1.10 to open. I did say a while back that Wall would screw existing shareholders”
So many derampers, shorters, bedwetters, and idiots.
I agree , quite a steep discount. But we are on Nasdaq finally ! Im with Pop holding firm at 7.4p
I am impressed with trading so far this morning. I’m not expecting any real gains until the USA opens and all the ADS’s are allocated. Some II’s might sell but circa 5m are locked in for the 90 days so there may be a settling down period. Thereafter, I am expecting a climb upwards as Texas 1 can be built debt-free and we have a raft of things to come, which cannot have been included in the SP. All IMO but please DYOR. GL Argonauts/true believers, 600
@Lolades78, your post at 07:55 is pretty accurate - as the norm with your good self. Exciting times are ahead despite a volatile morning so far. I'm keen to see this afternoon's trading once the USA opens. ATB
The Texas buildout is now paid for without debt.
BTC is going up as we speak.
We are receiving new machines this month and the next.
If I can get my hands on any more shares this morning I will.
Surprised they haven’t already sold the other 1.125million already at that price..........$15 (less expenses) is shameful!
Welcome to the ‘Wild West’.
:-(
I will definitely be BTFD!
Before the launch of the IPO earlier this month shares were approx $1.70.. As other people have said Supply and Demand - sure PW has settled on best price to guarantee the IPO is fully subscribed.
@Buster_Pila "What am I missing?"
Yes but another 80% (existing shares) are currently at approx £1.60p.
So you have to offset that against the 20% at £1.10p
Sorry if its a silly questuon but I will ask. What will happen when all 7.5 mil ADS are gone. Will they convert the existing shares to ADS to meet the demand. In that case the price will go up?
"The Company has raised aggregate gross proceeds of $112,500,000, before deducting underwriting discounts and commissions."
they've sold all the ADS ($112,500,000 / $15 = 7.5m)
"Argo Blockchain has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs at the public offering price, less underwriting discounts and commissions."
There may be a few more to come, which the brokers can still buy at $15 if they think they can make a profit from them.
i.e. none of the buyers are going to be selling their new shares at $15 on NASDAQ. If other shareholders choose to sell their existing shares at the IPO book price they are giving away free money, buy them :)
the_Chuz
“ Im going lower with £1 25 due to the disappointment factor. That's what I'm going to try and get the other 3rd back in for.”
I neglected to sell any, sadly, so I’ll have to use new money this morning. I don’t need more, so if I don’t see £1.45 I’ll just stick with my current holding.
I’ll be surprised if you see £1.25, but stranger things have happened.
@bluebay
"You would need to have a buy order in for your price really and hope it fills rather than trying to spot buy at 8am"
Actually yea, you might be right there.
You would need to have a buy order in for your price really and hope it fills rather than trying to spot buy at 8am
@miaterbeck
"I am currently 2/3rds invested with my whole shirt"
Don't lose your shirt
Actually fair points and a decent strategy too..."
Not just a typo but a Freudian slip I reckon haha, I know I am soo overexposed in this that it's borderline reckless but I just gotto give it a go ha
@ the_chuz
"I am currently 2/3rds invested with my whole shirt"
Don't lose your shirt
Actually fair points and a decent strategy too...
@lolades
"That's a great link, Blubay. I think funds are going to get a lot of the shares before retail even get a pop at it. Also a reason why Argo went to such lengths to become the only climate positive miner before the IPO."
I think you're right there, one thing that's for sure in my mind is any drop today will quickly evaporate. I've got to be ninja quick this morning, 8:03am or 8:04am is my buy in time.
As Chuz says, the buying opportunity is more likely on the London market this morning before the launch in the USA
That's a great link, Blubay. I think funds are going to get a lot of the shares before retail even get a pop at it. Also a reason why Argo went to such lengths to become the only climate positive miner before the IPO.
@misterbeck
"By my calculations we open at £1.50 or thereabouts.
Closed at approx £1.60 yesterday.
20% new shares at approx £1.10 - is a 50p price gap.
80% of 50p is 40p.
£1.10p + 40p = £1.50p
Reckon it will drop a bit more into 140s on open due to overreaction and then quickly rise again BWTFDIK
Ultimately its up to the MMs and wherever they want to take us."
Im going lower with £1 25 due to the disappointment factor. That's what I'm going to try and get the other 3rd back in for.
Before anyone says about me deramping I am currently 2/3rds invested with my whole shirt term investment pot and I'm still 100% invested in the long term pot. So I want /need this to go up.
I don't think there will ever be a better future buying opportunity with this share than first thing this morning.
Who knows though ey, it's all the roll of a dice.
By my calculations we open at £1.50 or thereabouts.
Closed at approx £1.60 yesterday.
20% new shares at approx £1.10 - is a 50p price gap.
80% of 50p is 40p.
£1.10p + 40p = £1.50p
Reckon it will drop a bit more into 140s on open due to overreaction and then quickly rise again BWTFDIK
Ultimately its up to the MMs and wherever they want to take us.
@simon
Pretty much and as such I wouldn't expect to see the full force of the drop. I think there people will be disappointed but then end the day with "actualky that wasn't too bad" then in a few weeks be happy again.
The company has a reasonable amount of cash now to get things moving.
What's good for the company is not always good for existing shareholders.. And to quote PW, "quarters and years" ( which i perso ky hate as it doesn't give a reason to invest right now)
yes, this might help
https://www.nasdaq.com/articles/new-ipos%3A-why-dont-they-start-trading-immediately-after-the-market-opens-2021-09-16
Isn’t this the price brokers etc can buy the ADS for and then sell on to PI at whatever the market price is?
@brianwills
"Personally disappointed with equivalent of $1.50 per share, based on recent movements this is quite a discount. Have to question who drew this up as the price has only gone this low on bad day dips over the last couple of months. Still plan to hold for the long term as I still believe massive future potential. I don’t see it as a huge dilution though as the incoming money is instead of debt & buying into assets.
Gla & hold on, if this takes the price down I’m sure plenty will buy up the shares"
Dont feel to harshly done.. If we take £1.35 as the start point because the rest is ipo hype added on and then factor in there are the addition of 20% more shares then its actually about right.
It will most likely drop first thing and I will be buying more (sold 1/3rd in anticipation of a drop).
It will soon pop back up and I thi k it will happen suppridinglt quickly based on the news flow expected.