No different to any other IPO. The sponsoring broker always gives them a pump.
If beereandco took a slice themselves they must have thought that it was good value - as has proven to be the case.
I think the current selling is late stags getting out for a profit that seems in danger of disappearing. I cannot see anybody who bought on market at 55 cents, say changing their minds in the space of a week or two and deciding to sell at a loss.
WMC Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
