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Essay on Amx Resources
| Date: |
10-24-04 9:03am |
| Subject: |
Business |
| Word Count: |
355 |
| Page Count: |
1.42 |
Amx Resources
AMX Resources:
Share Prices and Company Details
Company Details
Directors
ID Love ( Director, Non-executive Dir. )
MJ Palmer ( Chairman, Director, Non-executive Dir. )
W Loxton ( Managing Director )
C Ansell ( Non-executive Dir. )
B Camarri ( Non-executive Dir. )
With the $30,000 I had to invest I bought 37980 shares in the company at $0.79. Then I waited and hoped that they would go up.
When the shares reached the price of $1.24 I sold them. One reason for this was that on observing the stock exchange and some of the stocks that rise rapidly is that after a while the stocks drop because everybody wants to sell them before other people do and the price drops. The day after I sold the shares in AMX Resources the price dropped $0.14 to $1.10. After that it dropped steadily to $0.98. When it reached this point I thought I might buy them again but I didnˇ¦t and the price didnˇ¦t rise until after our trading time had finished.
Reasons I chose to buy the shares
„h Will Becker gave me a tip. (A big reason as I donˇ¦t have much idea on the stock exchange)
„h I looked into the company and there was a bit of movement going on and so I thought it might go up.
„h I didnˇ¦t have anything else to invest in.
„h It was a mining share and so prone to extremely big changes.
AMX Resources is a company mainly involved in the gold exploration sector. The company has been around for a while and so I thought it would be a good buy. Another thing I looked at whilst looking for a share to buy was the year high and the year low.
I suppose in a way I was lucky that someone in our group was pretty involved in the stock exchange. I was also lucky that the stock went up and didnˇ¦t crash. There is not much control over the stock market and so any money that is won is either a lot of good luck or a bit and some good management.
With this share I started with $30,000.
After I sold them I had $47,095.
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