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IHI Has Seen Great Progress in First 31 Days
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Written by Nicolo Luminos
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Friday, 28 November 2008 |
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For SLReports.net
IHI(ACE) investments might have seen a rocky start with the public and the extended length of their IPO, but since hitting the market IHI(ACE) has not rested very much on immediate successes.
Back in June when CEO Santinhos Noel first publicly broached the idea of IHI(ACE), and then made the company prospectus public, the reaction was overwhelmingly negative on the Second Life Capital Exchange Forums, with two different exchange represenatives and several investors predicting that IHI(ACE) would not be able to find a home with any of the then 5 existant stock exchanges.
Six months later more than a few people are eating crow.
It is not clear whether the original L$2500 bet made my investor Sportsbet Writer was ever paid to Noel, but IHI(ACE) was not only listed by the Ancapistan Capital Exchange (ACE), but has seen good amounts of investor activity, a share price that is nearing a stability over the original IPO price, and corporate revenue activities that may have others in the Real Estate Sector jealous.
Noel is one of Second Life's most visible CEO's, notable for being the first Portuguese-Language CEO in the SL stock exchanges, and Noel has hopes of using his position to bring more Brazilian and Portuguese speaking persons into the financial markets.
IHI(ACE) boasted almost a full month's profit for most companies in one 24-hour land deal earlier in the month, and was able to reinvest the profits into more land which is likely to be jut as profitable.
The recent successes of IHI(ACE) in Real Estate deals prompted CEO Santinhos Noel to proclaim along with the recent announcement of two more parcel acquisitions, "We will still be purchasing and selling land for the time being because we are very confident in the land market of Second Life."
Even while many private and public firms continue to reel from the recent Linden Labs change of Openspace Policy, or at least have started to take a more passive approach until the economy recovers, IHI(ACE) is benefiting from the current sellers market. IHI(ACE)'s 30 day rolling average after it's first month in trading is L$1.02 and 30 day volume average is 2,153 shares exchanging hands per day.
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