Dolla Financial listed and jumped a third in value on its first day of trading on the Jamaica Stock Exchange (JSE).
The stock gained 32% to close at $1.32 with just under 70,000 units traded. The stock hit two circuit breakers, causing it to be halted for the day.
Demand for the stock hasn’t even started, as more than 1,688 orders are pending, including a cheeky investor who wants 1.1 million units of the one-cent stock. This is very unlikely because more than 1,000 orders in the queue want the stock to go above $1.00, its listing price.
Also on the day, SSL Ventures gained 23% to $2.82.
The JSE index fell 219.82 points (0.06%) to close at 383,330.79 points and traded volume stood at 8,303,766 worth $47,547,653.86.
The Junior Market Index fell 21.05 points (0.51%) to close at 4,077.96 points and traded volume stood at 7,761,840, valued at $32,254,673.43. The JSE Combined Index fell 394.65 points (0.10%) to close at 395,090.66 points and traded volume stood at 16,065,606 worth $79,802,327.29.
Also during the day, the JSE USD Equities Index fell 1.02 points (0.47%) to close at 217.95 points and traded volume stood at 118,104, valued at 34,212, $22.
The JSE financial index rose 0.15 points (0.16%) to close at 91.39 points and traded volume stood at 1,262,535 worth $22,590,150.27.
The JSE Manufacturing & Distribution Index fell 0.73 points (0.68%) to close at 107.05 points and traded volume stood at 6,657,168 worth $43,815,978.72 .
Overall market activity resulted from the trading of 97 stocks with 37 up, 50 down and 10 traded.
The market volume in JA dollars (excluding blocks) was 16,065,606 units worth $80 million.
The market volume in US dollars (excluding blocks) was 118,104 units worth $34,212.22.