Spur Tree spices up 132% since listing

Newly listed, Spur Tree Spices, rallied 30 percent in trading on Tuesday for a third consecutive day to gain 132 percent since the IPO in December, on the Jamaica Stock Exchange Junior Market, with investors exchanging nearly 11 million of the company’s shares in pushing the volume of stocks trading for the day up 92 percent and the value 80 percent higher than on Monday as the market index closed 15.21 points higher to 3,518.19.
Market activity led to 41 securities trading compared to 39 on Monday and ended with 17 rising, 16 declining and eight, closing unchanged.
The PE Ratio, a measure used to compute appropriate stock values, averages  15.2. The PE ratio of each stock shown in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 19,336,528 shares traded for $57,883,987 up from 10,061,196 units at $32,241,574 on Monday. Recently listed Spur Tree Spices led trading with 10.69 million shares in controlling 55.3 percent of total volume followed by Lasco Manufacturing with 2.36 million units for 12.2 percent of the day’s trade and Future Energy Source with 1.57 million units for 8.1 percent market share.
Trading averaged 471,623 shares at $1,411,805 in contrast to 257,979 shares at $826,707 on Monday and month to date, averaging 209,819 units at $873,344, compared to 183,829 units at $819,889 on Monday. December closed with an average of 409,209 units at $1,318,877.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one stock with a lower offer.
At the close, Access Financial rose $2.75 ending at $23.50, the highest price since January 2021, with the swapping of 20,246 shares, AMG Packaging shed 5 cents to end at $3.60, with 535,137 stock units crossing the exchange, Blue Power declined 25 cents in closing at $3.10 after 23,354 units changed hands. CAC 2000 fell 30 cents to close at $8 while exchanging 2,401 stocks, Caribbean Assurance Brokers dipped 8 cents to $2.95 after trading 183,124 units, Caribbean Cream lost 30 cents to close at $5, with an exchange of 177,936 stocks. Fontana gained 10 cents in closing at $7.70 trading 86,777 stock units, Future Energy Source lost 6 cents after ending at $2.93 in exchanging 1,568,726 shares, General Accident popped 31 cents to $6.30, with 301 stocks clearing the market. Honey Bun climbed 28 cents to end at $9.48 in exchanging 39,155 shares, Indies Pharma rallied 15 cents to end at $3.15, with 60,470 units crossing the market, Iron Rock Insurance shed 16 cents at $3.25 with an exchange of 1,630 stock units. Jamaican Teas dropped 6 cents in closing at $3.79, with 430,951 stock units changing hands, Lasco Distributors advanced 5 cents to close at $3.30 in exchanging 35,410 units, Lasco Manufacturing gained 5 cents to end at $4.70 in switching ownership of 2,355,566 shares. Mailpac Group advanced 6 cents to $3.36 in an exchange of 403,848 stocks, Main Event fell 40 cents to $3.90 trading 26,432 stocks, Medical Disposables increased $1.84 to a 52 weeks’ high of $7.95, with 29,190 stock units crossing the exchange. Spur Tree Spices rallied 57 cents to end at $2.32 in trading 10,690,992 units and Stationery and Office Supplies popped 10 cents to close at $5.75 finishing at 5,105 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.