Equity hit Ksh250-primarily due to this announcement, but I also suspect some of the principals are downloading slowly. There was a low of ksh240 on today.
Crown Berg-I am assuming that all it took was for two guys to conspire as follows. One puts in a sale "at any price" and the other puts in a buy at ksh20. On a 1,000 shares which are then input into ATS at the last minute. Causing price to fall by 50% on the one day it can do so. Why would somebody do this? In the hope that nervy shareholders thinking its half results were bad, sell at throw-away prices. Unfortunately for them, nobody has bitten.
Going by all the threads on stockskenya, CO-OP IPO is imminent. Because its being brought by D&B, expect low threshold values and plenty of shares. I'll only participate in future IPOs on two conditions:
- Restrictive thresholds i.e. minimum Ksh50k or more.
UCL-climbed to KSh200 after the rights issue shares were downloaded. Its P/E stands at a great height of 85.If you held the share pre-rights, you'd be holding 70% gain (before commission) today.
FTSE had its worst week for a while after that speech by the inappropriately named Darling.