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• The weirdest quarter in the history of the Bucharest Stock Exchange
If we didn"t trust brokers, we could either believe that the BSE is being manipulated, or that the market for the stock of the BSE is being manipulated; but we trust our brokers, so we will just note that the evolution of the market over the last quarter doesn"t make any sense.
Since June 8th, when the BSE self-listed its stock, its price has constantly risen over the last three months and a half: from 25.9 lei to 38.5 lei.
The price of the BSE stock rose 49%!
Oh joy!
Let"s pop open the champagne!
A company whose stock is rising must be successful.
Maybe its key economic ratios have improved.
But wait!
What"s this!
The fundamentals of the BSE have gotten constantly worse over the same period: the turnover dropped by one third; the number of trades also dropped by one third; the trend in the volume of trades is the only that is displaying a very slight tendency to increase, but this is only due to the unprecedented peak brought about by the events concerning two companies (see explanations in the chart).
If we take the last week out of the equation, the volume has also seen a downward trend over the last three months.
Let"s summarize.
The BSE is doing worse on all levels.
Its stock, however, is rising sharply.
Way to go!
Keep it up!
The sky"s the limit!
It doesn"t matter that it doesn"t make any sense.
You"ve earned our trust!
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
