passwelle:

its the currentprice that is attractive

Raider76:


Me I think something fishy is going on. All the activity is going on at the fixed price of 5.99. The next lower bid of 5.51 is not changing. And why are the people selling at 5.99 not offering at higher price all this time since the volume of bids at 5.99 is high?

Manonamission:

Actually, ref price is N5.71. You can only bid +/- 5% of this price.

Manonamission:


But Oando closed at N6.01 last week Friday (with how many units on offer sef?) . Now it's on bid at N5.99?

PETERiCHY:
This a golden opportunity for those trapped in OANDO train to bailout bcoz after this their current shenanigan their next port of call will be N3:50k.

I don talk my own ooo.

*ThE OcToPuS*

Manonamission:


It remains to be seen how these companies will exploit the opportunity presented to them on account of the WHO certification. All I know is that they need fresh capital to maximize gains from the WHO certification. Most of them are in dire need of fresh capital due to their heavy debt profile.
Watching M&B and Evans, the listed ones that are readily available. The news is actually stale and the market didn't respond when it broke.

veecovee:
where is peterichy? stop talking anyhow, no one knows it all. checkout oando bid

mercylicious:


Don't be deceived.
Damage control things.

passwelle:

Thanks for the above. @Raider76 remember its a dynamic environment. Folks who didnt buy/sell last week can buy/sell now depending on their financial circumstance i.e availability of/need for funds. Nothing fishy is going on. The laws of demand and supply are just being upheld.

lancee:
Confusion continues .. the more u look the less u see ..NSE

Tomorrow may be a reversal again ...oando

And pls who re the pple doing all these magic ?

Elai147:

The demand and supply thing was artificially created. They have the price where they want it and are now ready to bid it up to where they want it before stabilizing the price. The men in black were responsible for more than 80% of the huge offers we have been witnessing in the past week. They started reducing the offers over time thereby creating an artificial display of gradual interest in the stock as offers were reducing and then all of a sudden, and on a Monday morning, offers disappeared completely and the stock is on full bid. They didn't clear the offers on ground. They made the offers disappear by opening the price at the usual -5% during pre-open but unlike before, after the stock opened at 5.71, there were no new offers at a further -5% as we witnessed throughout last week. People didn't adjust their offer prices (N5.71) by a further -5% before the bid started coming in just immediately after pre-open. Those who have the bravery to enter now may benefit from uncle Wale's attempt to stabilize the price. Some may find it dificult to break-even unless you are "audacious" enough to average up . This is just my observation.

passwelle:

Sir, I mean no disrespect. I however disagree with all this men in black conspiracy BS. Remember this is not monopoly money. If stocks are offered for sale, it is because there is a willing seller at that price. When there is a bid, there is a willing buyer at that price. The decline in offers was because many decided to hold than to sell at such a discount to their original purchase price. I am sure you saw how supply nearly outstripped the demand just before the end of the business day.

megainvest:
I agree it is pure damage control. I believe the bleeding will continue as soon as the cash runs dry. EXCEPT another news comes in now which I cannot honestly see coming till next year.

PETERiCHY:
David McIlroy, chief investment officer at Alquity Investment Management Ltd., which oversees $100 million of frontier market stocks and is put off buying more Nigerian shares until the currency weakens, he said.

http://bloom.bg/1GA8uXp

Like i said some moons back it's only NAIRA DEVALUATION that can set the market back on track.

Till then the local investors will keep bearing the BRUNT.

OBAGADAFFI:


So who is doing the damage control.

Buyers or Sellers.

Chibuking81:
I will not be surprise to hear that Ucheson is the new CEO of Oando company, because by now his company suppose own 80% share in Oando. ucheson congratulation.

angrybull:


I spoke with Jeckojehu he was also singing and sending massage of naira devaluation like canary bird. Do you guys in dubai have a store pile of dirham to change to naira. just curious

PETERiCHY:


Well the guy is into exchange and money transfer while I'm not.

I said this sometime ago I'm not really after NAIRA DEVALUATION rather what i want is stability of the NAIRA and free access to one's account .

All the money i remitted back home last year was done at an average of N170.

even rightnow remittance to Nigeria plus COT is done at the rate of N225 per USD while receiving from Nigeria is N228 per USD.

In other words the CBN restrictions is only preventing the bigger cash from hitting the system which in turn makes the economy to be stagnant and i bet you know what happens to a stagnant water. - PETERIOCONOMICS