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Saturday, October 09, 2010 8:38:31 AM
At the Friday closing price of 0.0026 the market is effectively pricing the Graffiti IPO share price ( assuming you take the conversion offer) at 100 x 0.0026 = $0.26 or Euro 0.18
(using the current exchange rate of about 1.39 Euro to a $)
This is less than 1/5 of the projected minimum IPO price.
It would seem something is holding this back.
For those intending to buy and hold (i.e invest) I think its a pretty good price.
However I think there are many who are reluctant to come on board because they are primarily traders. Graffiti is moving away from the US exchanges which causes uncertainty and there will be, an as yet unconfirmed, period of time before that listing takes place and Graffiti will be tradeable.
I don't think there will be much change from these price levels on Monday or Tuesday.
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