Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

UPDATED: False rumours of a stock shortage in Lenigas Cuba

By Ben Turney

2 November 2015 03:56

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Over the weekend there was a concerted effort across social media to con private investors into believing that there was a stock shortage for this morning’s Lenigas Cuba (CUBA) IPO. This morning I’ve triple confirmed from various City sources that these rumours are false. There is no shortage in Lenigas Cuba stock for sale, as evidenced by the company’s disastrous market debut. If you want to fight the tidal wave of sellers you can fill your boots with Lenigas Cuba stock. The stock flippers are having a very bad day in the market, despite their best efforts to manipulate it.

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Comments

VINES

2 November 2015, 05:29

http://www.shareprophets.com/views/15193/exclusive-another-short-squeeze-in-orsu-metals
Gary Newman

2 November 2015, 05:35

The average price of funds raised would be somewhere around 0.8-0.85p per share by my reckoning (taking into account the net proceeds from the placings – gross figure of around 0.95p per share).
Needless to say that DL will do well out of this, and probably will see spikes at some point on news given the illiquid nature of ISDX, especially if enough people are looking to buy at such a time (what they achieved with the USOP pump is a good example, and it would seem that far more brokers offer ISDX now than back then, when luckily all the messing about setting up an account that would allow you to buy – PLUS at the time – put many off and saved them from getting stung!).
Still early days but isn’t on my list to buy as not keen on paying 150-200 times what directors paid!