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Does Taking Position to Average Losses Means Investors Still Have Confidence in OANDO?

Proshare

Thursday, January 18, 2018 /03:45PM / Proshare Research 

Despite the technical suspension on the share price of Oando Plc, the stock continued to record impressive volume trades. 

In the last eight (8) trading days, OANDO has traded 160.55m volume of shares against 8.09bn volumes traded by the entire market within the period under review. 

Graph 1: Oando’s Volume vs Share Price in the last 8 days
Proshare Nigeria Pvt. Ltd.
Source: Proshare Research
 
 

Date

Price (Naira)

Volume

18-Jan-18

5.99

    13,968,644

17-Jan-18

5.99

3,149,332

16-Jan-18

5.99

1,533,308

15-Jan-18

5.99

30,260,955

12-Jan-18

5.99

52,023,073

11-Jan-18

5.99

16,375,045

10-Jan-18

5.99

28,806,563

09-Jan-18

5.99

14,433,284

Source: NSE

 

Furthermore, a breakdown of OANDO’s volume vs Market volume reflected that the volume traded in the last one week has no significant percentage share compared to the total market volume traded within the period under review. 

Graph 2: Oando’s Volume vs Market Volume in the last 8 days
Proshare Nigeria Pvt. Ltd.
Source: Proshare Research
 

Also, a comparison of the volume traded in the last eight (8) days reflected that it represents about 1% of the OANDO’s shares outstanding.
 

Graph 3: Oando’s Volume traded in the last 8 days vs Outstanding Shares
 
Proshare Nigeria Pvt. Ltd.
Source: Proshare Research
 

Proshare Nigeria Pvt. Ltd.

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1. Oando Plc Traded 3.78% of Total Market Volume Yesterday
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3. Oando’s Official Statement on the Commencement of a Forensic Audit into the Affairs of the Company
4. Review of the SEC Technical Committee Recommendations, Opinion and Final Report
5. Memo to The Market: The Oando Corporate Journey – At The Regulators Gate

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