Come on gyro, this is a great pump. An announcement, not even marked price sensitive and rightly so, induces a volume of 58mill and a price increase from 1.1c to 1.6c. Then gets sold back down to 1.2c and closes at 1.3c. Announcement made AFTER acceptances for placement closes. Why? So that shares can be issued at 1c and volume created so that when shares go live on Monday, there's a market to sell into for at least a 10/20/30% profit.
There was nothing material in that announcement. Shares moved from Channel 9 to Channel 9s Streamco venture. Same reason, to block a potential competitor takeover if need be and first dibs at content if QFX is ever liquidated. Still remains to be seen whether Ch 9 decide to take over, but claims of 3c a share are plainly ridiculous. Now over 1.5bill shares, they're not going to pay $30mill.
I do commend you though gyro, you have your placement at 1c and you should be able to make a tidy profit on your trade. Both of us have won out of our QFX trades and that's what the sharemarket is all about, making money. Can't say the same for some of the poor long-termers unfortunately although hopefully they can claw some or all back.
Have decided to discuss QFX no more than once every few days at most. As mentioned spent far too much time going around in circles with die-hard QFX only followers and have addressed that issue now
Good luck to you and everyone trying to make a quid. Have a great weekend.
