Another reason I could think of is that many traders who may have traded in those penny stocks might have their monies locked up in those counters following the saga of Blumont, Asiasons and LionGold; this might have curbed some trading in Pacific Radiance IPO stock today. Though I applied for Pacific Radiance IPO, I did not get ...
...The moment I read that Pacific Radiance IPO is only 2.2 oversubscribed after the many impressive analyses on this IPO stock, I thought that the counter may not have a really good run-up in price today on its debut on SGX. I am correct for Pacific Radiance IPO only closed at 2.5% above its IPO price. I believe that the news from China and the US may have shaped the performance of Pacific Radiance IPO performance as normally such an offshore and marine sector stock is quite “sexy” to investors.
