Sunday, September 04, 2005

Playing the Hockey Futures Market

I still can't quite figure out what the whole deal is with this thing but I don't think your actually buying stock in a NHL team. I think it's a wall street simulation that works with the real money fans contribute to a pool. You can buy into the pool through buy buying shares in the team of your choice. How much the shares cost is determined by the value of that team within the pool. Your shares then flucuate depending on the on-ice performance of the teams you have bought into and the subsequent buying and selling that takes place. Hockey Monopoly, I guess. Buy low, sell high.

The preseason headline out of allsportsmarkets is...
NHL Pittsburgh Penguins Skyrocket Up 86%
The Pittsburgh Penguins were by far the hottest pick on the board. Opening with the lowest IPO price of the NHL teams ($5.25 US) and a float of 2,000 shares, the Penguins sold out within minutes of their release and reached a trading high of ($9.77 US) by Sunday’s close. They are currently holding a 38.9% gain. Traders on feel the post 2003-2004 NHL season additions of Sergei Gonchar, Jocelyn Thibault, Mark Recchi, Zigmund Palffy, John LeClair and NHL number one draft pick Sidney Crosby have added life to the team.
Hmmm, I'm not sure what it all means but I'm glad to see that my Av's trading under the AVLNC symbol have gone from $10.25 to $10.29 despite the losses of Forsberg and Foote. WooHoo!

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