Razer (HK:1337), a gaming periperhal company launched it’s share yesterday on the Hong Kong Stock Exchange. The shares were supported by retailer investors and soar up by 42% yesterday.
It opened at HKD 5.00 and extended to HKD 5.49 on Monday and extended its gains to as much as HKD 5.49 posting a 41.5% to it’s IPO price of HKD 3.88 per share. In the afternoon it even reached a high of HKD 4.74.
This morning it traded at HKD 4.62 and it get shorted immediately down to a price of HKD 4.38 – HKD 4.40 at 10 am.
Will the price soar for this niche market industry or it is over hyped ? Comment below.