Hi Boris,
I am a broker in Germany, advising institutional clients in various parts of the world on which German stocks they should invest in. I have been following JYRA for about 1 1/2 years now, always increasing and decreasing my position over that time, but always remaining invested since approximately Nov. '96 and waiting for something to happen, having invested for the first time at $11 (pre-split - equaling $ 5.50 on a current basis) and waiting for good things to happen. This is of a personal nature and not for clients since this is not a German stock.
For those who do not know the German trading system, there are four tiers / segments of trading in Germany. The first and primary trading occurs in the official and strictly regulated market called the "amtlicher markt" which is the officially regulated market segment where only a few market-makers approved by the exchange under exact scrutiny are allowed to quote and set prices on a few companies which have to meet specific and comprehensive requirements and publicity laws and informative openness towards the investing public. The second tier trading occurs in the "geregelter markt" which translates into the regulated market, where some of these laws apply, but to a lesser extent. The third tier market (consider what the US has as a comparison - the NYSE, then the after-market / grey-market, and then what?; or the NASDAQ (National Association of Securities Dealers Automated Quotation System which has come under repeated scrutiny over its price finding methods), then the OTC BB (Over-the-counter Big Board - is this correct?), and then what?) requires a in Germany for trading purposes recognized / allowed institution or group to register a stock in which they would like to trade, as long as they commit themselves to supplying bid and ask prices, function as a market maker, ensure liquidity in the stock, and agree to openly make available all information that may be price-influencing in nature.
The fourth tier is the almost non-regulated / non-controlled telephone-trading mechanism, whereby all trades can be concluded, provided that there is a seller and a buyer, who agree on a price to be paid / received and who register their trade with an exchange.
JYRA is traded on the third tier, the "Freiverkehr" (the "free-traffic" market), where anyone recognized by the stock exchange as a legitimate trading institution can register a stock for trading. (Note that Frankfurt is the main Stock Exchange in Germany with the other 7 smaller regional exchanges fighting for survival and allowing almost any stock to take up a registration, as a means to survive the fight for survival). Therefore, a listing in this third tier segment of Berlin trading (Also have to say that Berlin is the main exchange site where a majority of NASDAQ stocks and other world-wide technology stocks can be traded - since they have a listing there - and at a significant discount in commission to German retail investors and other European investors than going over the NASDAQ directly) is not neccesarilly in - and of itself - a positive sign.
I do not, however, regard it as a negative sign by any means. It can only be positive, but not in and of itself; it has to be accompanied by something else. It is not a full listing on an European exchange, but I can not preclude that it is a prelude to a recommendation by a German broker.
Maybe this is a first step toward a NASDAQ and perhaps full ("regulated") listing in Europe, accompanied by positive results.
Should anyone find out in which (if any - I hope this materializes) German newsletter JYRA is supposed to be recommended, please let me know, since I can probably receive a copy of the corresponding newsletter, and I could also translate the relevant information for the others following this thread due to my German language skills.
Should anyone find the posted information by me interesting, or should you (Boris) have anything to add, please feel free to contact me.
I would appreciate any further posts and would find especially further information on JYRA on this thread very helpful.
This is my first post on SI, since I have just become a member. Up to now I have just read previous posts. Should any of you have questions as to the German markets, please notify me.
Boris, our of which Country are you based? Germany ?
Thank you all, and write to me soon if you have any questions or comments.
Regards,
GermInvest (German Investor)
P.S. - Take a look at MobilCom in Germany. Reuter's RIC is MOBG.F for Frankfurt (10:30 a.m. through 1:30 p.m. trading in Frankfurt's "new market segment" - "Neuer Markt" of the Frankfurt stock exchange modelled after the NASDAQ) or MOBG.BE for trading from 9:00 a.m. to 4:00 p.m. in the "Freiverkehr" in Berlin (all times are German time or Central European Time (CET)).
The stock has 23X its value in the last year, being issued at DM 62,50 per share on March 10,1997, and closing at DM 1500,00 today, after reaching a high of DM 1860,00 today, just over a year later. I expect it to reach over DM 2000,00 sometime this week, with a target of over DM 2600,00 within the next 12 months.
Furthermore, I believe Rofin Sinar (closing today, 03/16/98, at $ 17 1/4, RSTI.O, quoted on NASDAQ) is undervalued. Should see price above $ 20 within next couple of weeks.
I don't want to detract your attention from JYRA, news and information on this stock are the most important to me in responding to this thread, but I just wanted to give you my current views on those stocks that I see as potentially hot stocks.
Look forward to hearing from you soon.
GermInvest. |
