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How these IPOs fared 1 week later

The first week of a company being on the ASX boards can be very telling. The market doesn’t get any new information until the next quarterly or half-year result, so we can get a sense of the sentiment from how the share does in its first week.

Of course, how the market treats a share doesn’t ultimately mean anything. But, it can be interesting nonetheless.

Here are how the latest ASX shares fared:

Accelerate Resources Limited (ASX: AX8)

The mineral exploration company was meant to list on 29 January 2018, but sadly it didn’t end up listing. The company said that maximum leverage would be provided to shareholders through the strategy of consolidating dominant landholdings within mineralised provinces and adding significant value to those landholdings.

The ASX website has the future listing date as ‘to be announced’, so it remains to be seen if or when the business will list.

I’d be hesitant to invest in a resource exploration company as they are notoriously the most speculative apart from perhaps early-stage technology companies. However, that doesn’t mean Accelerate Resources can’t be successful.

Jayride Group Limited (ASX: JAY)

Jayride was meant to list on 29 January 2018, thankfully it did. Jayride organises the transfer from (for example) the airport to your accommodation via a mode of transport you’re happy with such as a luxury private car or shared shuttle at a price you’re willing to pay for.

The capital raising was at $0.50 per share, but the price is currently $0.45 before today’s open, representing a drop of 10% so far.

Foolish takeaway

Of the two shares I’d be much more inclined to invest in Jayride, it has a solid business idea and it is only a matter of customers using the technology that will make or break the investment case. I would not invest in Jayride at this early stage though.

It might be too early to invest in Jayride, but these top stocks look ripe for an investment.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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