Blackwell International (BGI)

[whatsup]

i didn't hold any share but was alert by the other discussion forum on this shares and people were crazy about it hence i went in and checked yesterday and saw the trading halt.

I think this is really wrong and someone should be held accountable for this "wrong information" and market was mislead by it for a considerable length of time and the company was alert to the movement of price and volume twice and replied "nothing they aware of".

And there was sell down by insiders.

All these need to be investigated NZX.

SpaceZ, what was the "other " chat forum ?

[tango]

SpaceZ, what was the "other " chat forum ?

It's been talked about a lot on Facebook. I'm not sure if this is what SpaceZ is referring to.
Lots of excitement for weeks. Now disappointment and confusion.

There are a lot of NZX based groups on FB.
Sharesies has a FB group too

[MarineSalvage]

mine does 20 a fortnight into various funds (if he does chores etc) but he chose several shares for his birthday money - what hadnt been spent on a nerf gun

My 10 years old is investing in Index fund.

[SpaceZ]

SpaceZ, what was the "other " chat forum ?

A Chinese language website called Skykiwi.

[LaserEyeKiwi]

Even at $75mil in asset, how could this be worth 9cps when SKT has $179mil in current assets alone, and only worth 14cps... doesn't compute.

I think you need to do a bit more research about how stock markets work. You cant compare share prices of two different companies without taking into account that each company has a different amount of shares issued. The market capitalisation of a company (what it is worth) is determined by the number of shares x share price.

In this instance Blackwell has 502 million shares issued, while sky tv has 1.74 billion shares issued. So even If both companies theoretically had the same share price, sky tv would be worth almost 250% more than Blackwell.

[Tony Two Gloves]

I sold out of this at $0.035 around two weeks ago and have been beating myself up since. I know this company is a dog and there was no rational reason for the SP to increase - losing money $693K last year, equity of $740K and only had income of $436K. The people behind this company have a poor track record and not surprising were quick off the blocks to sell down. The big question is did they mistate the NTA on purpose? 100% people acted on that info, it is such a masive mistake with 500M shares this would give them a NTA of $75M, they only have 17 loans worth $11M! I can't believe there are still people buying at 3.0C. Anyway glad i'm out and this whole thing now makes sense to me

[Akane]

I think you need to do a bit more research about how stock markets work. You cant compare share prices of two different companies without taking into account that each company has a different amount of shares issued. The market capitalisation of a company (what it is worth) is determined by the number of shares x share price.

In this instance Blackwell has 502 million shares issued, while sky tv has 1.74 billion shares issued. So even If both companies theoretically had the same share price, sky tv would be worth almost 250% more than Blackwell.

No, market cap is not relevant to the point I'm trying to make as the "rally" has thrown that number way off. You can't judge the company's true value by a very short snapshot of an out of whack market cap caused by the "rally"

[youngatheart]

And up it goes again. Anyone who sold their shares at open (0.75c) then bought in again at 0.15 would be doing remarkably well as the current sp now 0.35 and rising...

[youngatheart]

And the number of buyers seems to show that it's the Sharesies crowd back again, lol.
Makes sense in a way as most would have offloaded ASAP this morning to now find demand building up with little available to buy again...

[youngatheart]

It's a traders wet dream...