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 market 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:
Copper Mountain Mining Corporation (ASX: C6C)
Copper Mountain started trading on the ASX on 6 April 2018.
Its principal activities relate to the production and exploration of minerals.
Copper Mountain is a decently-sized mining company that was already listed in Canada, its main mine is in southern British Columbia called Copper Mountain. The company recently got approval from the Australian Federal Court to acquire all the shares of Altona Mining Limited.
Copper Mountain was admitted to the ASX boards with CHESS Depository Instruments (CDIs), meaning ASX investors can buy a piece of the Canadian company through the ASX if they want to.
It started trading at $1.20 and it’s now $1.28, representing a 6.66% gain. Not a bad start, but I suppose its future success will be highly dependent on the copper price.
Universal Biosecurity Limited (ASX: UBL)
Its principal activity is to commercialise its intellectual property rights to an apparatus that vaporises liquid fumigants for use in the fumigation industry.
The company believes that its product can be used with traditional liquid fumigants to deliver a traditional fumigation solution as well as with ethyl formate to deliver an environmentally friendly fumigation solution.
Its proposed listing date was 10 April 2018, but it hasn’t made it on to the ASX yet. The ASX hasn’t updated when it expects the company to list.
Copper Mountain could be an interesting one to watch for people who like resource stocks, but it’s not the industry for me. Who knows when Universal Biosecurity will list? It sounds like an interesting idea but I’d want to see it has growth potential before committing money.
At this stage I’d be much happier to invest my money into these hot stocks instead.
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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 Scott Phillips.