Check this out. BF market cap plummets simply through the sale of $1000 shares. Apparently a number of investors paid for their shares with credit cards. Sheesh – I can’t believe how New Zealanders could go onto an IPO like this without proper assessment.
I liken it to the current residential investment property boom – ma and pa investors jumping on the tail end of a plateauing market.
Yet another reason that we need some high level financial literacy education in our curriculum.