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.
