Ecojon posted this as a comment earlier this week. Somehow it fell into moderation. Real life (including research into the difference between dwangs and noggings) meant that catching up fell behind.
Having just read thru all the comments from the last few days (phew) I’m getting back to cruising speed.
So, some thoughts on Mr Di Stefano to come plus a post, which links with the Maguire/INLA one about “offence”.
But, on this bright Good Friday morning I will pass you on to ecojon.
Since his post was written I understand the share price has further declined. I am sure readers can chip in with market updates!
Fortunately Mr Green’s avoidance of “external debt” means the company will not be directly affected immediately as it would be if shares had been pledged as security with a lending institution.
And so (without further ado) I pass you to ecojon’s tender care.
I was just thinking back to the beginning of the year when the Rangers shares hit their highspot of what was it 94p after an IPO launch price of 76p in December. And the soaring market cap figure which had far outstripped the Celtic one was universally praised by the blue camp. My explanation of what market cap actually meant was brushed aside as a feeble excuse in the general hysteria.
Those were heady days and clarkeng had started posting daily share prices for Rangers and Celtic and confidently predicting a collapse in the Celtic share price by March.
Still we all make mistakes and as the Rangers share price started to dip the daily posting of the share prices disappeared so as a service to the Blog I decided to keep-up clarkeng’s good work although I seldom manage to do so on a daily basis.
But I’ve just had a look at the markets and note that Rangers share price is 74.5 which is still below the psychologically important launch price of 76p. Unusually the last 3 trades have been ‘buys’ at 74.60 and I wonder if there is an effort to stop the shares going further ‘south’ and going below the 70p that fans paid for them. I’m not saying that fans are in it for the money but the Darkside was ecstatic as the shares climbed to 94p and I haven’t seen a single tweet since they began falling.
Another cause for great jubilation was the Rangers Market Cap being greater than that of Celtic and how important this was in financial health terms – it isn’t btw – but again I have seen no mention of Market Cap since the share price started falling and today Rangers Market Cap has dropped to £48.50 million.
Just for the record and in keeping with clarkeng’s system: Today’s Celtic share price is 62p and the club’s Market Cap is £56.49 million. The price hasn’t collapsed as predicted by clarkeng and, indeed, I wonder when the Rangers share price will fall below that of Celtic as has happened with Market Cap.
I just had another look to check how things closed and see that 100,000 shares were sold not long before the AIM market closed at 72p which is fast approaching the 70p price that fans bought at. Doesn’t look as though the market is too happy about the prospects for Rangers shares or perhaps they are proving ideal for shorting.
Posted by Ecojon