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Wednesday, January 13, 2010

Another record breaking day for JAL stock

Japan Airlines stock once again breaks the highest volume traded record today. There were 1,042,599,000 shares traded today, accounting for around 1/3 of the 1st section shares traded in Tokyo Stock Exchange today (sadly this is 1/3 of the volume not value LOL). This breaks the previous record of 822.96 million shares traded set by JAL yesterday.

And JAL stock finally ends its two-day free fall and the stock is up today! It is up 14.28%, which translates to....1 yen LOL. The shares were traded between 6-10 yen today.

There are some guys out there trying to make a quick buck or two or are just betting on extremely slim chance of JAL shares won't get delisted. If JAL is to get delisted from TSE, it will still take a month to do so. According to The Wall Street Journal,

TSE rules stipulate that shares enter "delisting post", with physical delisting taking place one day after the corresponding day of the TSE's notice in the following month. A TSE delisting announcement made on January 15, for example, would result in delisting on February 16.

So if JAL files for bankruptcy on January 19 2010 and TSE makes the delisting announcement on the same day, the stock will continue trading until February 20 2010. So there's still time if you want to buy 1,000 shares as a memento. Time to go set up my account :)

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