I sold at 8.45 ..... Made a tidy profit ...
But I will definitely watching this stock for the next month or 2 ..... to see if I can buy more ...
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I sold at 8.45 ..... Made a tidy profit ...
But I will definitely watching this stock for the next month or 2 ..... to see if I can buy more ...
WOW!.
What to do now? - sit on my 2000, sell for a 70% profit, or buy another 2000 and average my buy price down to around 675? Decisions decisions.
I see trades today in PTM, not far from double in number and value all trades on the NZX.
A dream would be to have companies like this in NZ. No reason why we can't,is there?.
Its has been a good day. Good to see the price has held up.
25,000,000 traded so far of 561,000,000 on issue. That is 4.5% but if the float was for only 25% then it means about 18% of allotted shares have traded today. Think I have got that right.
See they have hit a days high of 884 now.
I noticed in the Top 20 shareholder list a Judith Neilson with about 140M shares. Presumably a connection of Kerr, and between them both probably have a fair share of the top holding of 280M as well, their profits for the day make us look a bit like amateurs.
Good luck to them both I'm happy to ride on their coat tails for a while.
She's his missus. Most of the shares offered in the IPO were in her name.
i was all set to buy on the open
then.....OH 8.60
NO THANKS
plenty of other fish to fry
too much froth for footsie and co.
would have been a happy buyer at 6.50 but not up here
Kerr Neilson now Australia's 3rd richest person.
Paper wealth of $3.8 billion.
9 bucks - you cannot be serious! Forward PE of 27, a huge premium to other fund managers. Greed has definitely taken over here. I sold out at close, $9 is just silly. Thanks Commsec, this was my best ever day on the sharemarket.Quote:
quote:Originally posted by SEC
On fundamentals alone $6 - $6.50 is justified but if herd mentality/greed take over then you may well get your $7.50. And a good stagging opportunity.
SEC
Congratulations to everyone who was able to get in on the PTM float....I wish I could say I was one of you!
That this would make the lucky few some easy money was probably the year's biggest no brainer, but geez, 9 bucks, that's incredible!
Interestingly, Huntley's now have them as a hold.
I noticed that AXA had a great day as well, no doubt riding the PTM wave of euphoria.
Where to from here [?]
I finally chose a fourth option - bought another 1000 this morning @ 870. So I now hold 3000 PTM which have cost an average of 626cps:)Quote:
quote:What to do now? - sit on my 2000, sell for a 70% profit, or buy another 2000 and average my buy price down to around 675? Decisions decisions.
This remind me of how BNB was floated. $5 shares opened at the mid $8.50's. I would take the money for PTM and wait for $7.50. Great sell at an even $9 yesterday if anyone here did it. Not a holder and only hear about this yesterday. Is the new IPO of Plan B (boutique fund management) is a different proposition?
Anyway, is there any general public applicants that receive allocation?
Hi soulman,
Yes it remainds me a bit of the BNB float as well. And look at what it did following the float. $9 looked expensive but a heap of profit upgrades and less than 3 yrs later its over $30.
Obviously BNB floated early in the bull market and PTM may have listed near the end. But it still shows that a quality business can surprise on the upside and all of a sudden it looks cheap again.
Cheers
Hi Mark,
Did you apply for PTM IPO and if you get allocation, was that through general public offer or through Commsec priority?
Also, BNB is in a different industry and has enormous upside, as shown in their SP for the past 2 years.
Yes BNB is a different industry but should the sharemarket start to wobble so will BNB (as will PTM). BNB is dependent on selling assets into listed and unlisted funds.
Do you think that funds management doesn't have enormous upside?
I got a very good allocation in the IPO
cheers