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Re: [sharechat] Peverse NZSE

From:	"Mike Hudson" <mikehudson@clear.net.nz>
Date:	Wed, 23 Aug 2000 22:41:44 +1200

Mike wrote

"ITC do a boomer deal and the shares drop like a brick.Frucor announce a record
profit (exceeding projections by 10%) and theshares drop like a brick. Yeah real
easy to follow the NZSE eh ?"

It's not perverse at all. Sure the Frucor profit may have been up 10% but the share price has gone up by 55% since listing suggesting that the punters expected much more. ITC has to keep doing boomer deals to justify its current share price, that is the nature of speculative shares.The prices of these shares are so hyped that exponetial growth is built into the price.

Cheers

Mike H

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