
Marlene Street Forrest – General Manager of the JSE is said to have intervened to reset the price Express Catering could trade at on Tuesday.
Good sense prevailed on the Jamaica Stock Exchange on Tuesday, finally allowing Express Catering to trade close to levels that large number of investors are prepared to trade the stock. In the process the price jumped 96% from Friday’s closing price and 127 percent from the IPO price of $1.50.
At the close on Monday, bids in the market above $2.29 were cancelled, an indication that the maximum price it could trade at being $2.97. IC Insider.com understands that regulations at the exchange permitted administrative intervention in the trading restriction that allowed the stock to enjoy the revised permitted price range of $2.52 to $3.41. The stock ended up trading 32,750,000 units to close with a gain of $1.67 to $3.41. During trading, the electronic board, showed that 65.6 million units traded up to $3.80. After the market closed a large portion were cancelled since the price exceeded the limit set for the day. The stock closed with the bid at $3.50 which will allow it to trade up $4.55 on Wednesday.
Trading on the Junior Market jumped sharply on Tuesday with the large trade in Express Catering, to 35,527,220 shares valued at $124,668,100, up from 1,438.180 shares valued at $7,648,204 traded on Monday. At the close, the market index rose 40.03 points to 3,028.93.
At the close, 21 securities traded, up from 17 on Monday with 9 stocks gaining and 7 declining. Trading closed with 5 stocks having a higher bids than the last traded price and 2 closing with lower offers.
The Junior Market ended trading with an average of 1,691,772 units for an average value of $5,936,576 compared to 84,599 units for an average of $449,894 on Monday. The average volume and value for the month to date amounts to 239,926 units at $680,321, compared to 74,820 units valued at $371,129 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
At the close of the market, AMG Packaging rose 20 cents and closed at $3.70 with 1,733 units changing hands, Blue Power dived $7 after falling $ 4 on Monday to close at $38 with 8,588 units changing hands, Cargo Handlers ended trading 4,853 shares to close at $13.75, Caribbean Cream jumped by $1 and closed trading with 105,300 units at $7, Caribbean Producers gained 38 cents to close trading with 57,863 units, at $3.40,
Consolidated Bakeries ended with 85,000 units changing hands, to close at $2.62. Dolphin Cove ended at $17.50 with 555 shares changing hands, Eppley gained 5 cents and closed trading with 16,985 shares at a new high of $13, General Accident added 1 cent and closed trading with 80,838 shares at $2.51, Honey Bun plunged $1 with 16,760 shares changing hands and closed at $5, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 62,653 shares to end at $4.61, after gaining 11 cents, Knutsford Express traded 4,481 shares to end at $15, Lasco Distributors closed 39 cents lower at $6.51 after trading 53,268 units, Lasco Financial rose 6 cents and ended with 57,505 shares changing hands at $3.56, Lasco Manufacturing shed 19 cents and ended with 2,107,735 shares trading at $4.31, Main Event lost 10 cents to close with 20,787 shares trading at $5.20, strong> Medical Disposables lost 1 cent in ending at $5.50 with 343 units trading, Paramount Trading ended with 72,354 units changing hands at $2.95 and tTech traded 4,699 units, falling 10 cents to close at $9.50.
Trading on the Junior Market dropped sharply on Monday to 1,438.180 shares valued at $7,648,204.78, from 8,428,003 shares valued at $32,387,101 on Friday. At the close, the market index rose 32.62 points to 2,988.90.
AMG Packaging closed at $3.50 with 7,486 units changing hands, Blue Power dived $4 to close at $45 with 143 units, CAC 2000 lost 31 cents with 500 shares trading to end at $6.40, Caribbean Cream jumped by $1 and closed trading with 3,205 units at $6, Caribbean Producers lost 23 cents to close trading with 700 units, at $3.07, General Accident lost 20 cents and closed trading with 14,242 shares at $2.50, ISP Finance slipped $2 and closed with 23,500 units changing hands at $12, Jetcon Corporation traded 142,419 shares to end at $4.50, after slipping 4 cents, KLE Group ended at $2 with 31,325 shares changing hands,
Knutsford Expressclimbed $1 in trading 591 shares to end at $15, Lasco Distributors closed 59 cents higher at $6.90 after trading 552,000 units, Lasco Financial lost 5 cents and ended with 235,000 shares changing hands at $3.50, Lasco Manufacturing shed 30 cents and ended with 418,482 shares trading at $4.50, Main Event lost 30 cents to close with 689 shares trading at $5.30, Medical Disposables rose 1 cent, ending at $5.51 with 250 units trading, Paramount Trading gained 20 cents and ended with 1,000 units changing hands at $2.95 and tTech traded 33,400 units, falling 40 cents to close at $9.60.
IPO being nearly 4 times oversubscribed with more than 1,000 applications received for the 52 million shares.
At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks now trade at an average discount of 45 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead.
The Junior Market ended trading with an average of just 421,400 units for an average value of $1,619,355 compared to 26,921 units for an average value of $155,022 on Thursday. The average volume and value for the month to date amounts to 74,208 units valued at $366,206 compared 51,062 units valued at $282,663 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
Derrimon Trading ended at $8 with 10,404 shares changing hands, Dolphin Cove ended at $17.50 with 1,000 shares changing hands, Eppley jumped $1.15 and closed trading with 3.481 shares at $12.95, General Accident lost 2 cents and closed trading with 9,637 shares to end at $2.70, ISP Finance jumped $3 and closed with 5,858 units changing hands at $14, Jetcon Corporation traded 635,488 shares to end at $4.54, Key Insurance ended at $3.05 with 12,101 shares changing hands, Knutsford Express traded 11,540 shares to end at $14, Lasco Distributors closed 6 cents higher at $6.31 after trading 128,623 units, Lasco Financial ended with 15,048 shares changing hands at $3.55, Lasco Manufacturing gained 20 cents and ended with 2,260,729 shares trading at $4.80, Main Event closed with 11,972 shares trading at $5.60 and strong> Medical Disposables ended at $5.50 with 6,100 units trading, Paramount Trading ended with 1,140 units changing hands at $2.75.
At the close of the market, AMG Packaging fell 65 cents to close at $3.10 with 18,689 units changing hands, Blue Power saw just 200 shares trading to end with a loss of $1 at $49, Cargo Handlers ended trading 24,500 shares to close at $13.75, Caribbean Cream closed trading with 8,000 units and fell $1.60 to end at a 52 weeks’ low of $5, Caribbean Flavours traded 2,500 units to end at $12, Caribbean Producers lost 10 cents and closed trading with 15,936 units, at $3.30. Derrimon Trading ended at $8 with 16,000 shares changing hands, Dolphin Cove ended at $17.50 with 1,900 shares changing hands, General Accident gained 2 cents and closed trading with 3,000 shares to end at $2.72,
Honey Bun gained 30 cents and closed trading with 19,359 shares at $6, ISP Finance dropped $2 and closed with 31,752 units changing hands at $11, Jamaican Teas lost 20 cents and ended trading 82,972 shares at $4, Jetcon Corporation traded 266,595 shares to end at $4.54, Key Insurance ended at $3.05 with 12,101 shares changing hands, Knutsford Express traded 19,583 shares to end at $14, Lasco Distributors closed 1 cent lower at $6.25 after trading 7,138 units, Lasco Financial ended with 5,301 shares changing hands at $3.55, after rising 15 cents, Main Event rose 10 cents with 13,322 shares trading to end at $5.60, Medical Disposables ended at $5.50 with 6,100 units trading, Paramount Trading ended with 7,785 units changing hands at $2.75 and tTech traded 1,813 units to close at $10.
Trading continued on a down ward path each day of the week and hit rock bottom on Wednesday as a mere 192,720 units traded on the Junior Market on Tuesday down from 401,316 units on Tuesday. Traded value declined to $1,219,105 from $2,286,974. 

Trading which dropped sharply on the Junior Market on Monday declined even more on Tuesday with only 401,316 units changing hands down from 671,349 units trading on Monday. Traded valued also declined to $2,286,974 from $3,163,547.
In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
lost 14 cents to close trading with 2,000 shares at $5.70, ISP Finance dropped 50 cents and closed with 12,000 units changing hands at $13, Jamaican Teas ended trading 9,700 shares at $4.20, Jetcon Corporation traded 12,961 shares and rose 5 cents to end at $4.54, Knutsford Express traded 750 shares to end at $14.50, after falling 20 cents, Lasco Distributors closed at $6.37 after trading 164,442 units, Lasco Financial ended with 500 shares changing hands to end at $3.60, Lasco Manufacturing fell 3 cents and ended with 117,131 shares trading at $4.77, Main Event rose 32 cents with 3,048 shares trading to end at $5.50, tTech added $2 trading 17,148 units to close at $10 and Eppley 9.5% preference share lost 5 cents to close at $6 with 1,000 units trading.
Trading dropped sharply on the Junior Market on Monday with only 671,349 units changing hands well off the 3,595,987 units trading on Friday. Traded valued also declined to $3,163,547 from $20,377,796.
In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
General Accident closed trading with 300 shares to end at $2.70, Honey Bun lost 27 cents to close trading with 5,000 shares at $5.84, >ISP Finance dropped 6 cents and closed with 6,700 units changing hands at $13.50, Jamaican Teas gained 20 cents and ended trading 300 shares at $4.20, Jetcon Corporation traded 10,354 shares and rose 19 cents to end at $4.49, Knutsford Express traded 1,700 shares to end at $14.75, after falling 10 cents, Lasco Distributors added 12 cents and closed at $6.37 after trading 115,667 units, Lasco Financial ended with 94,678 shares changing hands to end at $3.60, Lasco Manufacturing rose 10 cents and ended with 6,363 shares trading at $4.80, Main Event dropped 75 cents with 75,392 shares trading to end at $5.18, Medical Disposables ended at $5.50 with 21,679 units trading, and tTech dived $2 trading 2,425 units to close at $8.
Pull back in the prices of several Junior Market stocks, resulted in changes in the TOP 10 junior stocks at the close of the week. The changes took place against the back ground of an unprecedented 5 issues of new shares around the same time in the market.

The Junior Market ended trading with an average of 199,777 units for an average value of $1,132,100 compared to 46,281 units for an average value of $235,572 on Thursday. The average volume and value for the month to date amounts to 60,745 units valued at $336,751, compared 46,842 units valued at $257,217 previously. In contrast, June closed with averages of 395,969 units valued at $1,799,200 for each security traded.
Honey Bun climbed 57 cents to close trading with 281,092 shares at $6.11, ISP Finance dropped $2.39 and closed with 1,500 units changing hands at $13.56, Jamaican Teas gained 20 cents and ended trading 200,000 shares at $4, Jetcon Corporation traded 12,400 shares and fell 20 cents to end at $4.30, KLE Group ended at $2.10 with 450 shares changing hands, Knutsford Express traded 1,610 shares to end at $14.85, after falling 15 cents, Lasco Distributors fell 73 cents and closed at $6.25 after trading 18,200 units, Lasco Financial ended with 12,497 shares changing hands and fell 10 cents to end at $3.60, Lasco Manufacturing rose 30 cents and ended with 27,727 shares trading at $4.70, Main Event rose 33 cents with 14,828 shares trading to end at $5.93, Medical Disposables ended at $5.50 with 747 units trading, Sweet River fell 4 cents and ended with 12,000 units changing hands at $3.51 and tTech traded 41,354 units to close at $10.