My beloved broker and adviser rang me earlier this year to get me to subscribe to an IPO for TPR at 20 cents a share. I declined. Current market price is 12 cents/share, a 40% haircut in about 3 months.
Got to love your broker. So reliably wrong, or just trying to earn a crust without any regard for their client's finances.
However, MYR looks like it may have a greater percentage fall than TPR has to date. It is a race to the bottom for so many shares on the ASXCasino. Current economic climate not conducive to retailers.
Those that took up the MYR IPO can write to Jeniffer Hawkins to get their money back or recieve something in kind from her. I believe she is very complying.
Congratulations go to the US mob and all their Australian associates who screwed Australia out of $1.5 billion (without paying any taxes on the gains). Impeccible timing and great marketing skills.
No doubt MYR will become an excellent buy one day. But when and at what price is to be determined.
loki
MYR Price at posting:
$2.59 Sentiment: None Disclosure: Not Held
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