KenGen IPO - the 'aftermath'
I also think that the price could come down further as institutional investors are unlikely to enter the market until the price goes below a certain level - maybe something like 20.
Based on my 'kienyeji analysis' http://josiahmugambi.blogspot.com/2006/04/kengen-ipo.html,
I had decided that I'd get out when the price hit 30. However, like everyone else I was surprised to see it hit 50+ on the first day of trading.
Anyway, the annual results could play a big part in determining the direction the stock will take in the short term.
3 comments:
tempting to cash out now and buy back with institutions at <20
my plan as well. Waiting for euphoria to die down completely. I'll look at it once it's sub 20.
Meanwhile i'm looking at other suitable stocks for re-investment
It's a wise move to short it considering the nature of people holding this stock you can tell how active the counter will be.
Hard times in the domestic econ can send the stock crashing to single digits.
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