SHOULD YOU BUY LEVI STOCK RIGHT NOW? TOM K SHARES HIS EXPERIENCE!

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Singapore Stocks
Dear readers, Levi debuted on US stocks markets (NYSE) last Thursday (21 Mar 2019). Levi’s IPO price was USD $17 per share. Looking at the oversubscription of the stock pre-IPO, I have reckoned that Levi IPO would open up with a big rally! And I believe that great monies would be made by just contra-trading Levi stock on its first day of IPO. As such, before the US stocks markets opened last Thursday, I have already had my “Buy” order for Levi, set at USD 19.50 , around 15% higher than the IPO price. The above price was my highest price that I would pay for Levi stock at the opening date with the view that should my buy order be filled at the opening, the price of Levi IPO would continue to rally, bringing me great profits!

While the US stocks markets opened at the usual time (around 930pm Singapore time), it was only around an hour later that Levi stock debuted on NYSE! Looking at the opening price of USD22, I already know that this price was way beyond any other alternative high price I would pay for Levi. Levi stock ended its first day of IPO with a high of USD 23. And as of last Friday (22 Mar 2019), Levi closed at USD 22.12.

Please note that I am not advocating readers here to swing-trade US IPO stocks or IPO stocks in general in this post. Not all IPO stocks are equal. Some stocks will just go south once they IPO. For Levi, my attempt to buy is rooted in my belief that this stock would go up on its first day of listing but at the same time, Levi would not be a stock which I would consider to hold for a long time due to the very competitive retail scene. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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