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16-07-2013, 10:44 AM
(This post was last modified: 16-07-2013, 10:45 AM by Stocker.)
Holding cost is very low to the syndicates now, when costs getting higher, they will dump, but they have to come out with good stories to lure the man-in-the-street to rush in to buy and hold the baby.
We are in internet era, but there will still be suckers around, because there are new suckers born everyday.
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Flying high today. Up 41 cts.
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Remind me of a film 'Overhead' cast by the trio Louis Koo, Daniel Wu, Sean Lau. In the film, one of the policemen bought a penny stock which ran up to about 3+ dollar ? in a matter of days.
This stock, latest price is 2+ dollar, from 1.5 cents about one and half year ago.
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unbelievable...
is there something I have missed out on this gem? anyone care to shed some light?
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Here is a hint on the run-up. What a hot stock.
Blumont calls trading halt after SGX query
Blumont Group has called for a trading halt of its shares this morning after receiving a query by the Singapore Exchange (SGX) over an unusually steep rise in its share price.
SGX’s market surveillance unit said Blumont’s share price has risen from $0.30 on Jan 2 to $2.45 on Sep 30. This is a eight-fold increase over only nine months since the beginning of January. In the same period, the market cap of Blumont has increased from $508 million to $6.3 billion. This is a 12.5-fold increase.
Since December 2012, Blumont made announcements on acquisitions and investments in nine companies, of which only small investments of under A$/US$10 million were made in six companies. Of the remaining investments, the highest involved a purchase consideration of up to $48 million. There was also another investment amounting to about A$8.76 million with a concurrent subscription of convertible bonds.
SGX, however, says these announcements may not sufficiently explain the steep increase in the price of Blumont shares.
http://www.theedgesingapore.com/the-dail...query.html#
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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(30-09-2013, 10:39 PM)pianist Wrote: unbelievable...
is there something I have missed out on this gem? anyone care to shed some light?
You missed out the suspension
Obviously you are lucky enough not to be hurt badly before
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
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Basically, at a price of $2+, which company would issue 1-for-2 rights at 5c? Only Blumont can do it. last CR price $1.6, first XR price $1.9, for sure is manipulation + bubbles.