This can happen. But I'm sure there's examples from both sides. UTO opened at 80 and bombed to 30. Just risky for a newbie I reckon. If you're not ruthless and get attached to your stock (as new traders sometimes do) then it can end in pain. Will be interesting to see what this does tomorrow. Let me flip a coin.........heads. Up!Kennas.
I would've bought this on the open, if it opened at, say, 80c. But $1 was a bit much.
Reason I would be buying and not selling is because I've seen floats like MRU, TOE, NUP, do well on the 1st day, and sold, only to see them reach higher in the 2nd day.
the market sure is strange sometimes - many people will be burnt severely
Notice how all the people saying about newbies getting burnt are those that missed out?
Dont be so bitter guys - just move onto the next one.
And yeh imajica, the market is strange, I remember your fave INL you used to ramble on its a producer now and so on, well yeh the sp HALVED so I hope you didnt get burnt being such a true believer.
Did anyone get some of this in the float?
Or was it a private/ipo!!!
Im out at the close.
I wanted a white candle.
Didnt get it.
It opened too high.
If it had opened at 80 and close at 100, good chance it will run 2mrw.
But i agree Kennas, 2mrw is a coin flip.
Correct me if i am wrong but the maths is as follows. AFR = $1.00 and EvE holds 70% of AFR, then EVE should be valued at 70cent not including the other resourses they have.
So, then you need to add in the value that EVE has less it's holdings in AFR. What's that Ang?Therefore, the value of EVE based on its AFR holding alone is about 46cents.
Incorrect. Your logic is flawed.
EVE has 224million shares.
Market cap at 40c is about $90million
AFR has 147million shares.
Market cap at $1 is $147million.
EVE holds 70% of an asset worth $147million, which is 0.70*147 = $102.9million.
$102.9million/224million shares = 0.459.
Therefore, the value of EVE based on its AFR holding alone is about 46cents.
Hope that helps.
Yes. I got some.
Out today.
There are 147million shares on issue for AFR. But top 20 hold >92% and about 70% of the total is in escrow with EVE for 24 months.
So once there is a demand theres no supply to feed it - sellers can demand their own price and buyers have to chase.
Has anyone still got this one on their watchlists or still holding?
You are one lucky chap. I put put my first buy order in at 10:02 at 41.5c and then stupidly chased up the SP all day.Definitely worth getting on IMO - I bought in yesterday at 40
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