Had to purchase 500 more Galaxy Entertainment shares today!
I haven't posted on this page in a long time. Lost my old handle (sincitywiz) due to inactivity! I purchased some more shares today at 7.90/share. There is an expected slowdown for April in VIP numbers, but we all know that Galaxy Macau is positioned for the Mass Market as well. Besides, April is over already. Bad news is already priced in. Golden week is coming up so May numbers should be an improvement over April. Have to look forward with this stock to 2015/2016. Grand Waldo re-opening in early 2015 and then Galaxy Macau's 2nd phase soon after. Not to mention the Hong Kong – Zhuhai – Macao Bridge and other infrastructure projects designed to bring more Mainland Chinese to Macau and Cotai. Very happy with my purchase today!
I am new to buying this type of foreign share. Can someone briefly explain what there two types of equities are (GXYEF vs GXYEY) and why they don't seem to move that closely in tandem. Is there an advantage in buying one over the other? Why are they so thinly traded? I see the same types of shares for Sands China and Wynn Macau. Thanks.
I asked the same thing a couple of years on an OTC blog. A very knowledgeable OTC Exchange replied that the GXYEF is a "Foreign" (F) ordinary share, meaning it is the foreign stock price divided by the exchange rate. So this us Galaxy stock in Hong Kong (symbol 0027.HK) divided by 7.75 (7.75 hong kong dollars per US dollar ). The GXYEY is an ADR (American Depository Receipt) share and represents 10 hong kong shares of Galaxy, divided by 7.75. They do vary slightly by pennies. Yes volume is low ad not much wide interest in these shares, except for wise people like those on this Board. ;). Supposedly minor trading rule and dividend tax rules fir Fireign ordinaries versus ADRs. So do your research on net or contact your brokers customer service dept. good luck.
Welcome back!!!! You're timing could not have been better considering that the April numbers topped 10% and Macau gaming stocks will climb today. Think the market has been played and the waters are now smoother.
Crossing my fingers for a great report by MPEL before bell tomorrow . The whole group needs it . Been whipsawed lately but like u and conjcanuck i believe in the longterm and as i have a large amnt of Galaxy in the $4s, im just holding tight here. Good luck! And welcome to conjrngcanuck!
Thanks furls! I have held shares for years, since I originally bought in at $2.20/share... Sold some along the way up, and wanted to purchase more. I felt the timing was right being that it was the last day of April, stock was basically at a six month low, and the junket scandal news was priced in. In my mind, fundamentals have not changed. Every day that passes Galaxy gets makes more money and gets closer to opening Phase 2. Happy the April numbers beat analysts predictions/expectations! Should be a good May too!