Sinking like a rock -- $2.86 currently -- Market don't seem to like HMY ;)
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Sinking like a rock -- $2.86 currently -- Market don't seem to like HMY ;)
Good grief .. now just a paltry $2.75 a shot for such a handsome offering .. ;)
Just a recent observation while doing some due diligence...
On 21 Dec there was high volume of 82416 shares traded, followed
On 22 Dec "Harmoney secures NZ$200m debt facility from M&G investments"
https://www.nzx.com/announcements/365521
SP immediately jumped from near bottom of $2.62 to recent high of $3.17
Does this transaction look highly suspicious to anyone else (insider trading?)
Where are our regulators?
Meantime the CEO seems to be whitewashing the company via its good news story in the Herald yesterday...
https://www.nzherald.co.nz/business/...BEABM4XTTDLRE/ Paywalled
Maybe I'm overthinking this?
I think this happens alot with company's on the sharemarket. Problem is if and I say IF they get caught they get a slap on the wrist compared to what they make out of these transactions The old saying is where there's smoke there's fire. That trade that went through before the announcement well that was a fire. Will the nzx (fire department) put it out. Probably not.
As the price went into free fall a few punters asked NZ Reg Co to investigate ...but they didn’t
Harmoney's post IPO share slump prompts investor call for price inquiry
https://www.nzherald.co.nz/personal-...ectid=12410246
Now suspicions when it goes up fast ....maybe just market volatility ;)
See (from that Herald article) Jarden had to play the old Chinese Wall trick
Harmoney's joint lead managers for the IPO were New Zealand investment bank Jarden and Australian firm Ord Minnett.
This week Jarden investment analysts released their first research report with a buy rating on the company and a 12-month target price of A$3.30 - A20c below its listing price.
A spokeswoman for Jarden emphasised its research was fully independent of its investment banking arm. The firm offered no comment when asked whether the IPO was over-priced, considering the now lower valuation from its retail analyst.
Share price back below $3
Probably drift back to the $2.70s from here
It needs a trading update. Share price is stuck in no mans land. Wandering around aimlessly. Or downhill.
I've got it on my watchlist but won't commit until I see the next numbers.
more downhill needed before it's time to be thinking about backing up the truck .. ;)