Following a quiet day on Friday & an even quieter one yesterday, EQH upped the ante today closing 3c higher at 30c - a 50% premium to its IPO price.Slow & staedy, no speeding tickets, just happy shareholders.
The "boys" have got this stock well & truly by the short & curlies & it will be interesting to see where they would like the price to be as this is about the only determining factor in the share price. When there is buying & no selling, what does a share price do?
Notwithstanding this, Ikin is no fool. He would not "push" a share price for the sake of it. There must be a bigger plan in place & that's when I think things will get really interesting with the share price.
The fact is that even at 30c, EQH is only capped at $7.5m. Strip out the cash & you're left with an EV of about $5.5 - a ridiculously low sum.
The value of trade today was the princely sum of about $16,500. Imagine if there was $165,000 or better yet $1,650,000 thrown at EQH. Where do you think the share price would be?
I think those days are not too far away & look forward to reaping the benefits.
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