The week at iPredict
It has been a week of steady gains at Ipredict for PM.National investors this week. Last Friday they were at 73c, and over the week trades kept edging up in price closing at 76c.
The TV3 poll on Sunday night had no impact on the share price, reflecting it was close to the average of the polls showing a 13% gap.
PM.Labour has been much more volatile, ranging between 21c and 27c. They hit their low of 21c at 7.50 am on Tuesday 30 September – possibly linked to many people first getting the news that the US House of Representatives had voted down the US$700 billion bailout package – an economic meltdown in America would damage all economies, and make it tough for any incumbent Government.
Peters.Resign continues to cruise downwards. A week ago it had fallen to 16c, and over the week dropped to below 11c. Peters filed his amended pecuniary interests returns on Tuesday, revealing that the SFO were right that he had the Spencer Trust pay a $40,000 bill on his behalf. But even that only pushed the stock up to 16c. Most in the market have concluded he is unsackable.
MP.Peters which is effectively how the market rates NZ First’s chances of making it back, finished last week at 36c. It fell to 32c over the weekend but on Tuesday rose again to almost hit 40c – possible this was a result of no further gifts being disclosed in Peters’ amended returns. By late Thursday though they were down to 31c – after it was noticed that Labour were taking credit for many of NZ First’s policies.
A stock not looked at before is Majority.Nat – the price of a share that will pay $1 if National gains a majority of the seats. All week it was between 30c and 33c, but on Thursday some confident investors pushed the price up to 40c briefly.
Finally we look at the new stock released on Wednesday for Wellington Central – WC.Franks and WC.Robertson. The initial offering price was 55.5c for Robertson and 43.5c for Franks. Franks shot up to 60c briefly but then dropped back to 40c. That evening the candidates debated on the TVNZ7 Backbenches show. Franks stock dropped during that show 35c, suggesting viewers thought Robertson did better. WC.Robertson peaked at 70c after float but since then has been around 60c. The debate did push him up from 58c to 62c.