Bid $2.35...Damn what a great IPO [:p]:D[:p]:D
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Bid $2.35...Damn what a great IPO [:p]:D[:p]:D
some one made good money selling 500k.
amazing that with 5.5mill shares traded today that all the sellers could have decided that RAK didn't fit their long term investment profile anymore....and that the sale was part of a process of reweighting their investment portfolio.;)
I mean no one would have stagged it for a (very) short term gain would they[?]
Quite a premium over the listing price, and I for one am not complaining.
My bet is that there is little gain to be had and potentially some loss over the next six months and will not be extending my financial interest in this one at the moment.
Disc: :)
Agree - now far too high a P/E. Out, done and dusted.Quote:
quote:Originally posted by Paper Tiger
Quite a premium over the listing price, and I for one am not complaining.
My bet is that there is little gain to be had and potentially some loss over the next six months and will not be extending my financial interest in this one at the moment.
Disc: :)
Holding it's own nicely :)
So Fisher Funds have been keeping the SP up:
SSH Notice From Fisher Funds Management Limited
The NZ Herald is having a damn good go at Rakon over the extent of their involvement in supplying components for military systems.
I can see there being some interesting [non nuclear] fall-out from this.
Revealed: Hidden story of NZ export star Rakon
Saturday May 27, 2006
An Auckland company, Rakon Ltd is winning plaudits for leading the way in cutting-edge technology, especially through making a key component in GPS navigation systems.
Last year it won the New Zealand Trade and Enterprise supreme award for exports. And when it launched on the Stock Exchange two weeks ago it was warmly received by investors.
But there is something that Rakon has been keeping quiet - it is the sole
supplier of an important component in the smart bombs made for the United States military.
A long article...
http://www.nzherald.co.nz/section/st...ectID=10383769
Interesting to see how market reacts. I don't think it is a surprise that Rakon supplied military contractors given it is a global market leader in its field and so much "Smart weapons" technology must include some form of GPS. Understandably Rakon would not have been keen to shout this from the rooftops. I think a potential concern is security - how this info came out the way it did - and my concern would be if this potentially affected its relationship with key customers like Rockwell.