Fidelity Investments, BlackRock Inc. and T. Rowe Price Group Inc. asked for some of the largest allocations, and will be among the company’s biggest new shareholders, the people said, asking not to be named because the information is still private. Wellington Management Co. and Putnam Investments LLC also requested shares in the Chinese Internet giant’s New York IPO, the people said. Waddell & Reed Financial Inc. also sought a stake, one person said.
Fidelity sent me an email which said:
1) Between 7PM est and 12AM est, Fidelity will be asking for confirmation of orders.
If you don't give them your confirmation, you won't get an allocation.
2) After 12AM est, Fidelity will begin allocations.
IMO, this short attack is timed to coincide with the Alibaba IPO.
Many investors are hoarding cash to buy BABA.
I just added more shares of SCOK at 4.49.
Sentiment: Strong Buy
I agree with half of what you said.
I think that a stock buyback is the worst option. I like regular dividends because I'm a retired person who is living off of dividends.
Perhaps some big investors have been guaranteed an allotment of BABA shares in the IPO.
So they can lighten up their holdings of YHOO.
Also, you get currency risk if you buy SFTBY. If the yen depreciates, then SFTBY will lose value in terms of USD.
If SNP goes below 90, I will add to my position.
Here's my reasoning:
The new private investors will add value to the retail unit. After its value has significantly increased, they will offer shares as an IPO. Since SNP still retains 70% of the unit, its mkt cap could increase substantially.
China's retail sales grew 11.9 percent year on year to 2.11 trillion yuan (343.3 billion US dollars) in August, the National Bureau of Statistics (NBS) said on Saturday.
The NBS also said that online retail sales saw robust growth in August, with total sales value hitting 250.6 billion yuan in the month, up 54.9 percent year on year.
There are lots of China-bashers around who hate everything Chinese. Many of them may not even know anything about stocks.
I read many China-related articles on the internet on a daily basis.
Reading the responses to those articles, I notice that many of the responses are written by the same people saying things such as: "China is a fraud", "Chinese are liars", "China can't innovate, they can only copy", etc.
These are people with a political purpose, and they may not be investing any money one way or the other.
The Sinopec retail business runs the country’s biggest network of fuel stations, with more than 30,000 locations, as well as 23,000 convenience stores.
“The retail business is a big cash cow with the potential to increase margins,” Gordon Kwan, head of oil and gas research at Nomura International Hong Kong Ltd., said by phone yesterday. “There is a lot of scope to make the business better.”
I'm saving my cash to buy Alibaba stock. I intend to buy more NQ shrs after the Alibaba IPO, but not next week.
Perhaps many other investors are hoarding cash to buy Alibaba.
I think that the Alibaba IPO could negatively affect many Chinese stocks.
If the yen gets devalued, then the prices of Japanese companies (in terms of USD) will go down.
I got into SCOK yesterday at an average cost of 5.80.
This is a rare instance when my timing was perfect.
I got my wish. I added more shares at 5.50.
If it falls below 4.50, I will add more shares.
I'm now invested in SYMX, CREG and SCOK. All of them in the clean energy sector.