Blis Technologies debuts with share trading frenzy

Shares in Blis Technologies worth more than $2.5 million changed hands this week even though the company has yet to reveal details of its activities or financial forecasts.

The 40 million 10c shares had hit $2.20 by the end of Monday before settling back to $1.35 mid-week after turnover of nearly one million shares, giving the company a value of $50-70 million.

On Wednesday the shares hit a low of $1.10 before strengthening again due to some panic-selling by shareholders who were fearful of missing out on the stagging, according to sponsoring broker Forsyth Barr.

"It's not really the kind of stock we'd promote to many clients. We have to explain that it's highly volatile."

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

FBU - Fletcher Building Announces Director Appointment
December 23rd Morning Report
MWE - Suspension of Trading and Delisting
EBOS welcomes finalisation of First PWA
CVT - AMENDED: Bank covenant waiver and trading update
Gentrack Annual Report 2024
December 20th Morning Report
Rua Bioscience announces launch of new products in the UK
TEM - Appointment to the Board of Directors
December 19th Morning Report