This is a narration on a stock market phenomenon called 14.29. It explains how the stock prices of some listed companies act suddenly to achieve determined outcomes, often in a way that surprises small investors and stock traders. The term 14.29 was coined by a very good friend of the house named Dexter. Dex, as he is fondly called is also a phenomenon.
For ardent and eagle-eyed retail investors in the Nigerian stock market, the term 14.29, which actually means 2:29 pm, is a specific point in time during the trading day that has to be taken note of, if you trade stocks in real time. Those of us who understand this term, like to call it the 14.29 protocol, because it sounds quite snazzy.
But to explain what it means, let’s define a few terms and activities of the stock market, which you may find useful as we go on.
Bid/offer: A bid is when you place an order to buy stocks, while an offer is an order to sell shares. When total bid (buy orders) outweigh total offers for a stock, it is likely that the share price will rise because the demand for it is high.
If offers (sell order) outweigh the bids, it is likely that the share price will drop because people do not want it.
Now, to online stock trading.
Standard Alliance Insurance plc: What happened to the most capitalized insurance company of 2010?
After a 39-year journey of high and lows, shareholders await Awodiya to deliver on the promise of profitability.
Standard Alliance Insurance Plc recently held its Annual General Meeting, the first in the last four years. The financial reports received at the AGM were that of FY 2017 and 2018, bringing up the million-dollar question; what is going on with this underwriter?
Nairametrics Company of the Week focuses on the 39-year-old highly ranked insurance company, its past achievements, and current realities.
Almost 40 years ago, the company was incorporated in July 1981 as a Private Limited Liability Company. At this time, it was known as Jubilee Insurance Company Limited until August 1996 when it became Standard Alliance Insurance Company Limited.
Corporate Story: Intriguing tale of Seven-Up’s ugly fight for market share in Nigeria
For many years, competition in the Nigerian soft drink market was mainly between Coca-Cola and Seven-Up but in 2014, Rite Food came and disrupted the space.
It was early morning on Wednesday, November 13th 2019, and Ziad Maalouf was not asleep. He could not sleep, not with his mind burdened by what had become a serious problem facing Seven-Up Bottling Company, which he oversees. It was part of his job as the Managing Director to figure out a solution to this challenge. And that was exactly what he was doing as he sat in his study that early morning, typing furiously on his computer.
By 4:37 am that morning, Maalouf had sent out an internal memo and copied 25 top executives of the soft drink manufacturing company. In the memo, he made it clear that he was ready to declare war against the company’s competitors. He would not rest until the war was over and Seven-Up had emerged victorious, he declared.
But the internal memo leaked
Nairametrics | Company Earnings
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- 2020 FY Results: Guinea Insurance Plc reports a loss of N227.7 million.
- 2020 FY Results: Unity Bank Plc posts profit after tax of N2.09 billion.
- Guinea Insurance Plc reports a loss of N142.13 million in 9M 2020.
- Unilever Nigeria Plc set to hold Annual General Meeting on 6th of May.
- UBA Plc posts profit after tax of N38.16 billion in Q1 2021.