HK stock market trader's review

a crazy day for 2899

Today is the first day of 2899 issued 10 new shares per 10 shares. That means the total volume of shares doubled and stock price halved.

It was the third time after #2899 has done this trick. Every time the price was halved, it got fried up significantly. I have no clue about this time if the stock price would still up, since it has been at a record high already.

Price started slightly lowered at $3.4 with dividend deducted. Then suddenly rise by 10% to $3.8, $3.9, $4... then jump to $4.2, $4.4, $4.5, which is +25% at that price !! This was a terrible increase and I was so astonished about that, since the market (HSI, CEI) was generally not good and both index dropped by >100pts.

2899 was not able to stand at that unreasonable price and drop back to $4 (+15%) during lunch, and close even lower at $3.675 (+5% only). The difference has been 20%, which is a huge amount !! My mum phoned and asked me during lunch if it was good to buy 2899 at current price ($4). I said no, though I dont plan to sell my shares yet. Even if it drops in the future, I will only earn less, but if she buy now and it drops, she would be lossing instead.

Fortunately, my mum didn't buy at last. Otherwise she would be blaming me !! ^.^

posted by SSY @ 8:29 AM