Walau! Anything can happen in the market! FOMO!
Read? Investor bet on Hang Seng Tech ETF goes south
CSOP Hang Seng Tech Index ETF (3033), Hong Kong’s first exchange-traded fund that tracks the tech index, gained by 1.5 percent on debut to HK$7.615 per unit, while a group of investors lost 60 percent buying the units at HK$20.
The ETF once surged by 1.67 times in the pre-opening session from its offer price of HK$7.5 per unit.
The group of retail investors made their offer on Valuable Capital’s platform under mainland Sina Corporation, local media reported.
The Hang Seng Tech Index hit a record high of 7,745 points before paring the gains to close at 7,580 points today.
A spokesman from CSOP Asset Management denied that there was no mispricing of the ETF and the net asset value of the ETF has not changed a lot, but there could be significant differences between the price and the net asset value in a short period before the market opened, due to the difference between demand and supply during the bidding session.
The investment house reminded investors to pay attention to price fluctuations of newly-listed securities and make investment decisions based on the net asset value. The ETF recorded a turnover of HK$3.05 billion.
Big losses on Day 1
Uncle8888's friend went in to join the Tech Bloom ...
Large volume change hand during the falling off the cliff!
Posts
wow
ReplyDeleteScarly those who stuck at HKD20 will get 600% gains over the next 7 years lol.
ReplyDeleteBy then everybody better get out of stocks! 😲
Read? NYU professor: Make sure young investors 'don't become addicted' to online stock trading
DeleteHow to get out when one became addicted? LOL!
Hmmm...
DeleteEither you control greed, and scale out/get out when things are already "good enough".
Or the market kicks you out on your behalf! Yikes!
PS: It still wasn't too late to get out in Apr 2000 after a -25% drop, or again in Nov 2000 after a -35% drop & major major support broken.