Or it could be the first sign of euphoria in the markets, if Snakk takes off like a rocket thanks to people who don't know how to value shares chasing "the next big thing".
Like fonterra and moa? Both great stags. Bring it on!
i dream of a time when every ipo is a success.
I don't, IPO's are a mugs game. Sparky is right - there are early signs of the mugs returning to the markets.
So are you saying that raising capital via equity markets is a bad thing?
Nz needs more listings. It is fantastic that companies can now use the nzx to raise capital. I don't know if you had noticed, but the nz market has been dying slow death.
I agree, there are mugs returning to the markets. But it is not just in ipos. I have been trading on nzx for 13 years. Never before have i seen such an expensive market.
Even when profits have underwheled, the market does not punish. Think skellerup, michael hill.
More than ever, it is a time to take quick profits and not be too exposed to the markets. Perhaps we could encourage brokers to allow shorting?
hmm interesting they are willing to take the $$ from here but state no staff will be employed here , or was it no sales staff , either or , I found that quite an interesting comment to be made openly.
Noodles i notice your comment that you have never seen such an expensive market,well you should have been around in the 1980s that was an expensive market totally over inflated. For example i bought a hand full of Robert Jones Inv shares in around 1982 before the bull run which cost me around $1500 and with a few share splits and bonus issues along the way i sold them for 75k and i can remember they went up $1 on just one days trading, that was just one stock a lot others were just as hyped but then we all know what happened in October 1987. I also have shares in Snakk.
Yes I have snakk too from that horrible little company that goes nowhere(seadragon/Claridge/butterflies and Fairys)some of the other names it's had,I think I was certified organicly stupid when I purchased those.
You have shares in Snakk? I didn't think they were listed. I didn't realise they had a private placement either? The Companies Office suggests there are 51 shareholders at present.
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