Partygaming Float - interesting article

[Webzcas]

Originally Posted by mary

I want in on this action. I think it will be down 30% in six months. $10 American.

Done. You have been

[spearmaster]

Easy way to collect from me - find me a way to buy the stocks - and then sell short while I buy up

[Simmo!]

Well it opened at $1.29, the $1.52 marker was set a week after trading. It's now dropped to $1.20 Oh yeah....roll on down to $0.76 baby

[TrickyNicky]

Originally Posted by spearmaster

Easy way to collect from me - find me a way to buy the stocks - and then sell short while I buy up

can't you get a UK broker to buy them on your behalf? Thats what most people I know who invest would do...
otherwise don't you know anyone in the UK who could buy them in your name?
TN

[spearmaster]

Actually, I'd like to see the shares drop further as well - then I would personally fly into UK and find a way to get a trading account.

Not to mention paying Simmo a few quid for a lost bet.

[Webzcas]

Originally Posted by spearmaster

Actually, I'd like to see the shares drop further as well - then I would personally fly into UK and find a way to get a trading account.

Not to mention paying Simmo a few quid for a lost bet.

That said, I cannot understand why Partygaming have done this. It doesnt make sense Revenue and profits are up, yet they have forecast that it is going to be hard to sustain. The only reasoning I can explain they have done this is to put a spanner in the works of Cassava's upcoming IPO - by reducing confidence in the Online Gambling Sector in the City.

Most of the main shareholders have cashed out from the Party IPO back in June so no doubt they are not worried that the shares have nosedived as a result of this inept statement to the City.

[GrandMaster]

Originally Posted by Webzcas

Most of the main shareholders have cashed out from the Party IPO back in June so no doubt they are not worried that the shares have nosedived as a result of this inept statement to the City.

They still own about 70%.

[Simmo!]

Originally Posted by Webzcas

That said, I cannot understand why Partygaming have done this.

They're bound by law to release statements like this plus it makes sense to keep expectations low, as shares recover better when expectations are exceeded later

Plus i phoned them up and told them about our bet so maybe they hold a grudge against you or Spear?

[Simmo!]

dum-de-dum...Hi Spear, Hi Webzcas....

http://finance.yahoo.com/q?s=prty.l&d=t

[Simmo!]

Hi Spear, hi Webzcas,

Just some info for you in case you'd forgotten


Date: 29th Sept 2005
Last Trade: 87.50
Trade Time: 11:35AM ET
Change: Down 8.00 (8.38%)
Prev Close: 95.50
Open: 96.50
Bid: 87.00
Ask: 87.50
1y Target Est: N/A

I make that 11.5 pence short of half-price