Party stock almost half off hi --- when to buy??

PokerPaul · #1 09-28-2005, 03:14 PM

i was almost gonna buy some shares, thought about putting in 10K US into them.

Then i found out the commision on foreign market trades would come in around $400, and i could only get about 60 shares with that.

So i thought i'd wait a little longer.

KramerTM · #2 09-28-2005, 04:15 PM

Excuse my ignorance. Party Poker had an IPO?

PokerPaul · #3 09-28-2005, 05:00 PM

oh yeah.....it was the biggest IPO on LONDON exchange since 2000

PokerPaul · #4 09-29-2005, 02:53 PM

thank goodness the trade commision was so expensive i decided against buying teh stock yesterday.

Stocks down over 8 pounds today to 87....saved a bundle

stinkypete · #5 10-02-2005, 05:59 AM

[ QUOTE ]
i was almost gonna buy some shares, thought about putting in 10K US into them.

Then i found out the commision on foreign market trades would come in around $400, and i could only get about 60 shares with that.

So i thought i'd wait a little longer.

[/ QUOTE ]

wow, that's a retarded commission. assuming you pay the same when you sell, that's 8% in total. no stock is worth that.

i hope by "wait a little longer" you mean "wait until i can find a way to buy them for a reasonable commission".

Guthrie · #6 10-02-2005, 04:42 PM

Wait until tomorrow, and save another bundle. Or wait another week, and save another bundle. Or wait until ...

Masquerade · #7 10-02-2005, 06:17 PM

UK stocks are quoted in pence so a price of 90 means £0.90 or about $1.60. You could therefore buy 6000 shares, not 60. Theres a lot of scepticism about the viability of online poker so they might well be under-valued and PRTY.L is moving upwards again now.

Neil Stevens · #8 10-02-2005, 07:06 PM

I'd give it a while. Let all the IPO speculators get out, then scoop it up at the bottom.

And while you're waiting, do absolutely nothing to argue with the "Poker is dying!" crowd.

AnyAce · #9 10-02-2005, 08:58 PM

I bought some Sportingbet (also traded in London) right after they acquired Paradise Poker about 9 months ago. Fidelity charged me their standard commission ($14.95 or so). Its had a nice run since then.

AA

PokerPaul · #10 10-03-2005, 09:49 AM

are you serious....just $15 commision for a foreign market trade?

If thats the case i just dont understand how my brokerage firm can charge over $300 to execute a trade on a London Stock exchange. He said at time it was because there is much more paperwork involved, foreign currency exchange, etc etc. I still am trying to figure out how they can charge $400 for a couple of phone calls maybe and keyboard clicks but took their word for it.

I havent done the trade yet but if anyone can let me know if this sounds right or not. Oh and i am not dealing with some no name scrupulous brokerage house here. It one of canada's biggest banks.