The last week of trade has seen the completion of the Share...

The last week of trade has seen the completion of the Share Purchase Plan and a heavy scale back - as Rdisnic rightly predicted. But logging into my stockbroker account, I had to do a double take - I actually got the full amount I applied for (a very small parcel on top of my existing holding). I had expected KGN to go for the jugular, and raise its cap much higher than $5 million.

With Friday's release of shares to the market, there was a (small) possibility of a quick selldown back to the issue price of $11.45. But in real life, no such thing happened - not even close. Instead, trade began at at an all-time opening high of $17.00, and ended at an all-time closing high of $17.29. The day's trading volume of 1.5 million was meh.

To put last week's events in Haiku:

Keen extra buyers
Anger after scaling back
Many holding on

Looking to the future, KGN now has up to $120 million to splash on acquisitions and the like. I wonder if at least one acquisition will be made before the annual report/presentation (in August, I believe). With Melbourne in lockdown for weeks, it represents about 1/4 of the Australian economy, which should continue the existing trend of more online purchases from home.

Finally, let's think back to KGN's IPO on July 7th, 2016. On that day, it opened at $1.80 and closed at $1.60.

If you bought at that day's closing single price auction - and Held On for Dear Life - you as a HODLer would now own a 10-bagger.