As a shareholder of the Australian Securities Exchange (ASX) and all the major brokerages, I was disappointed to see the drop in the trading volumes of CNP yesterday.
Having experienced several days of 100 mill plus volumes, I had made the following projections :
120,000,000 CNP shares traded per day 250 trading days per annum 10,000 shares per trade $40 commission (combined between the buyer and seller). Annual revenue = $120,000,000.
Considering that CNP delivered a $1 billion loss in 6 months to its shareholders, I cannot complain with the $120 million contribution which will help maintain the lifestyle I have become accustomed to.
Recoomendation : Despite the drop in trading revenue I maintain a rating of BUY *or* SELL (either one, I am not fussed) but for chrissakes, don't HOLD.
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CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held