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Home Companies Company News

Baptism of Fire: Caverton Stock Drops 18% In Just Two Days After Listing

Nairametrics by Nairametrics
May 22, 2014
in Company News
Baptism of Fire: Caverton Stock Drops 18% In Just Two Days After Listing
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It’s not often a stock gets listed only to be pounded by the market. Caverton Group listed on the 2oth of May at a price of N9.5 as many welcomed the listing. But the stock closed today at about N7.76 a N1.76 kobo drop from the N9.5 opening price.

Is this a cause for worry? Not exactly as stocks price move up and down depending on market sentiments and off course demand and supply. So maybe this is just a baptism of fire.

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However, one still has to determine if the entry share price was overvalued. I thought it was but who knows….only time will tell.

 

Tags: caverton groupNews Review
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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