Concluding remark. Simon Brown once did an excellent presentation on "Closing Auction" and how the EOD price is finally settled by virtue of demand and supply. To Simon, If MTN released the SENS announcement at 7am or 3pm, would that have influence the closing auction mechanism?
From Moneyweb: In South Africa, (MTN) is facing a potential probe by the JSE over the timing of its disclosure to shareholders of the Nigerian fine. The JSE is engaged in Â“focused conversationÂ” with Deutsche Securities, MTNÂ’s sponsor, in the interests of the operatorÂ’s shareholders, GM for issuer regulation Andre Visser said on Tuesday. Despite news of the fine being in the market in the early hours of Monday morning, MTN failed to notify shareholders about it until 2.24pm. ... MTNÂ’s share price has taken a beating over the NCC fine. It collapsed by 12,5% on Monday, wiping R44bn of its market capitalisation. Shortly before 3pm on Tuesday, the counter had shed another 4,8%. Nigeria is MTNÂ’s biggest and most profitable market. At the end of September, the operation there had 62,5m subscribers. Â— (c) 2015 NewsCentral Media
@simon Brown, yes , for short term traders, Mtn price would have gapped down at the opening, those who are long would have been squeezed out of the positions. Existing shareholder,who has no intention to sell, there is no impact at all as Closing auc
i wouln not say "sad" is the appropriate word; a Nigerian politicians son gets kidnapped, and MTN cannot provide the identity of the person asking for the ransom becuase the SIM is unregistered(Moneyweb). It is an issue that can be solved, even if it requires a change in management....at the right price, its a "happy" situation....
it read of my self made chart like the one you use, have to crunch numbers again but last time i checked; at a PE of 10, it would be cheap, so with current earnings, price range would be around 120-150. There is also a variable in there that would make it a "Value" in MY portfolio based on my current "cost".
three day rule entry on MTN triggering, stop at lows from today .. I not trading it as who knows if management maybe have another trillion dollar fine they keeping silent on .. it makes for heightened risk, three day trade rule wants all news in market, we have hardly any