Jumbo Group Limited (42R) opened at 0.35 and started off strongly, with share price rising to a day high of 0.395 within the first few minutes of market opening and started to stabilized at around 3.55 – 3.6~ before slowly moving down and ended its first day of trading closing at a price of 0.34.
Despite the hype during the IPO, where its shares are oversubscribed by 8 times, Jumbo did not perform as well as most people would expect. My sentiments is that most people in general are not that confident and are looking to enter early into the market and to flip profit within the first day. Once it hits its first resistance at 0.395, they start to fall gradually.
Initially, I also wanted to purchase a bit of 42R just to get into the action. It is my first time experiencing an IPO and it is also a household brand that is close to every Singaporean’s heart. However, I was busy at work early in the day and I am glad that I did not try to chase after the price surged.
Although It is still very early to comment on anything. I still feel that it could still be a multi-bagger for investors looking to hold it long term. But for me, F&B businesses just isn’t my cup of tea. Just my 2 cents.
Where My Money At 