Whoa! Luen Wong Group Holding jumped 1438! on the first trading day and has gone up 6715%! Wow! talk about underpricing. So much money left on the table on the first day? What a POP! Makes the dot-com bubble look like child play.
Not sure what is going on but I would stay away. Wild rises probably imply, there probably someone pumping the stock. Any sudden meteoric rise is probably not so economically sound. Right now the returns are almost biblical proportions, 60 X+, which is quite rare, especially in a very short time. Although I would have been happy if I took the ride on the IPO. But let’s remember abnormal things are abnormal for a reason and the end may be quite ugly. I will be seeing how this story ends.
I predict that there is something wrong and the IPO will probably go down in price.