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87 posts

Master Geek

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# 255784 29-Aug-2019 16:51
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Hello all

 

I have been offered (actually all current share holders) to purchase up to $15,000 worth of AMP shares at lower of A$1.60 or 2.5% discount off average current price (A$1.65).

 

The way I see it:

 

A$15,000 @ $1.60 = 9375 shares.

 

Then sell off @ $1.65 to make A$468.

 

 

 

Anything wrong with my logic?

 

Is it worth the risk?

 

Would the share be trading around 1.65 after listing of new share placement?

 

Jon.

 

 

 

 


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8719 posts

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  # 2308251 30-Aug-2019 09:09
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Well the one year chart doesn't look too hopeful, but OTOH based on the price yesterday, you make 7 cents not 5, less brokerage.

 

Who knows?  If every shareholder does what you might (expecting to stag a quick profit) then what happens to the price?

 


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Biddle Corp
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  # 2308255 30-Aug-2019 09:20
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It's just about guaranteed the share price will drop more with a rights issue.

With the volitility in shares right now thinking you could just make a few hundred dollars quickly is flawed logic. I've sold down a lot of my shares and seeing ups and downs of up to 10-20c each day of some of the others.

If you're willing to gamble you might make it back. I wouldn't be trying such a ploy with AMP though.

 
 
 
 


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  # 2308261 30-Aug-2019 09:36
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I wouldn't do this for such a small amount of cash. 

 

You could lose money. 




87 posts

Master Geek

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  # 2308262 30-Aug-2019 09:37
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Thanks for replies. 

 

I shall NOT subscribe to the offer.


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