After all of the speculation and frustration surrounding the DAVIN to The Keepers [KEEPR 1.69 86.82%] change, the injection of the liquor assets using a share swap that rug-pulled existing shareholders, a par-value change, and a FOO, we finally got to see KEEPR in open trading!
The stock opened the day at P1.73/share, which was a nice 15% pop for the FOO buyers (but a brutal 89% drop for Team Rugpull), and then climbed up to as high as P1.85/share (23% pop for FOO buyers) in the first few minutes of the day before quickly receding back down to that initial opening price, and then bouncing around in a range between P1.68 and P1.74, before finishing up at P1.69/share (+13%). Over P1 billion worth of stock changed hands (that’s heavy volume),.
MB BOTTOM-LINE
Traders are going to love this kind of volume and price action for the next little while, especially if KEEPR performs like Synergy Grid [SGP 14.70 4.42%] did under very similar circumstances (long suspension + rug-pull + low-price FOO). SGP started trading up significantly off the FOO price, climbed still further on its second and third day (up to +33%), then started to slide back to that price on the initial day of trading.
If KEEPR were to follow a similar pattern, we’d expect the price to pop up maybe 5% or so to P1.78 on its second day, and then another 10% or so on its third day (Tuesday) to get up into the P1.95/share level, before retracing back down to the P1.69/share level. This isn’t a price prediction on my part: I’m simply mapping what happened to SGP onto KEEPR for curiosity’s sake. Please do not take this as a trading plan! While the transactional circumstances between the two stocks share a good number of similarities, that’s about as far as the metaphor goes before breaking down completely.
As always, trade with caution, know the amount that you’re willing to risk before you enter into a trade, and don’t let the results change your overall investment plan. Don’t let a small loss on a day-trade convert you into a long-term bagholder.
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