- Equity Story Group’s (EQS) shares have plummet by 27 per cent since its ASX debut on Tuesday
- Founded in 2010, the company offer trading advice on the stock market as well as research, investor education, and management services
- The company issued 23.3 million shares at a price of 20 cents each, raising $4.64 million
- Majority of these funds will be directed towards advertising and marketing, as the business looks to grow its subscriber base
- Shares are trading 9.38 per cent lower today at 14.5 cents each
Equity Story Group’s (EQS) shares have plummeted by 27 per cent since its ASX debut on Tuesday.
Founded in 2010, the company offer trading advice on the stock market as well as research, investor education, and management services.
It pitches its services towards a younger demographic, who are increasingly demanding investment advice and education.
It offers several subscription packages, where participants will pay an annual membership fee for equities market advice.
The company issued 23.3 million shares at a price of 20 cents each, raising $4.64 million.
Majority of these funds will be directed towards advertising and marketing, as the business looks to grow its subscriber base.
“We’re looking for the long term future of Equity Story, what we’re looking for is to grow the business with all the verticals that we do. And we feel very confident and hopeful that given a decent run at it, our share price will hopefully reflect the success we’re going to have in the business over the next two or three years,” Head Technical Analyst and Director David Tildesley said.
“Hopefully we haven’t priced our own IPO too high. What do they say though, the proof will be in the pudding: Do what we committed to and take the story worldwide.”
Shares were trading 9.38 per cent lower today at 14.5 cents each at 12:14 pm AEST.