Trade Me (TME)

[CJ]

Overall market sentiment at work, or perhaps jitters over Fairfax's majority ownership and their ongoing issues? Must admit, TradeMe has been a much better performer than I expected - did not expect it to hit $4.

I sold out early and did not expect it to get over $4. It has drifted down a lot, is that just on the rumor that Fairfax may have to sell down or has there been something else I haven't heard. The economy is no worse than it was back then - Greece is still in ruins.

[CJ]

Tellingly, the volume for TME has dropped away by 70% on average since it's highs in mid May. Around 500-1m shares traded per day compared to 2m-2.5m shares a day a month ago.

So you think it was just a slow and gradual "IPO pop" as funds slowly built up their 'index' holdings, or some other factor, but not fundamentals based.

[The BOWMAN]

Trading halt. Judging from the price movement prior to this. Can't be good news.

[ratkin]

Seems to be all good, they are flicking the shares off at a decent price to the new investors

[CJ]

Seems to be all good, they are flicking the shares off at a decent price to the new investors

Those that got in on the private placement got a better stag than the IPO.

I would have thought there would be some selling pressure as they offload but the price has held up.

[peat]

More of a comment about Fairfax than TradeMe, bbut doesnt it strike anyone that selling 'new media' to save a company that hasnt invested in 'new media' as an odd thing to do.

You're supposed to keep the winners.

[peat]

Gina Rinehart has already expressed concerns about Fairfax’s recent partial sell down of its stake in Trade Me.
https://theconversation.edu.au/whats...sell-down-8090

[percy]

I would have thought Faifax would be better off selling their newspapers and keeping trade me.

I still think this is true.

[ratkin]

Why are trade me constantly making announcements about the state of the economy?. theyn have even started making forward statements about future job growth and housiprices.
All fairly interesting , but why are they doing it , i would rather be hearijg how the company is performing,

[The BOWMAN]

Why are trade me constantly making announcements about the state of the economy?. theyn have even started making forward statements about future job growth and housiprices.
All fairly interesting , but why are they doing it , i would rather be hearijg how the company is performing,

I am OK with these announcements. You can always ignore them I guess. Information is huge asset these days. If they put their data to use to come up with some valuable information, and use whatever channel to broadcast it. I don't see any issue with that.