Blackwell International (BGI)

[Gerald]

Lol over 1300 trades before 11am. I am guessing the Sharesies crowd are bidding this up with almost no sell side, as it appears to be a dead company. Even the directors are dumping as they realise nothing is going on there.

Prepare for a speedy elevator down

[Traderx]

I'm all for the democratisation of finance but this is madness, the good news is only c$300k traded today so in terms of total losses the sharesies crowd may be exposed to it could be worse.

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

[Baa_Baa]

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

[Cadalac123]

This is more a reflection of how poorly conducted the NZX is. They asked the company to provide insight into the sudden appreciation, company says nothing of note, directors sell out days after this (lol?) and it kept going up.

Embarrassing exchange.

[Traderx]

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

They have no clear legal responsibility agreed. But they have large quantities of new investors, they serve up lists of available investments ranked by returns/performance and then punters buy in seemingly on the strength of that information.

At what point do they ask the question - is the way we've designed our service helping or hindering our clients?

[youngatheart]

I'm all for the democratisation of finance but this is madness, the good news is only c$300k traded today so in terms of total losses the sharesies crowd may be exposed to it could be worse.

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

Sooo BGI is the new AIR for Sharesies then...

[youngatheart]

Average transaction is about $200 for the 1400 trades so far today so the Sharesies Effect is entirely possible...

[etrader]

I have not done sharesies before as I invest by a broker but signed up a quick account to view how it works and it looks there’s an encouragement to buy at market and also the real price is delayed by 20 minutes so if an investor pops $50 at market it’s going to keep snapping up the lowest seller.

This stock is a default on the direct buys so mum and dads will see the 1250% return and want some of the action.

I’ve said before just with a little pocket money chucked a few bucks to test the waters but it really doesn’t do anything

[MarineSalvage]

certainly very interesting effect - its an accelerant to any company or fund that gets the masses excited... BLT certainly benefitted from being top of the list for a while...

[youngatheart]

Hmmm... May be 10c by Friday if not sooner by the looks of it....