The Mailpac Group saw its share price jump from J$1.00 per share to J$2.22 during trading this afternoon after listing on the Junior Market of the Jamaica Stock Exchange yesterday.
Investment expert John Jackson had predicted that the stock price would jump based on market demand. Prior to the company’s listing, Jackson placed the stock in his top 10 stock picks for 2019. However, based on the skyrocket movement, Jackson has said that the return on investment of 100% in two days has moved the stock out of the top 10 and he will look for other opportunities in the market.
That said, in today trading, there was 535 buy orders and 120 sell orders. Expectation in the market is that the stock may trade as high as J$2.40 come next week.
“The service is complemented by the ability to track packages online, electronic invoicing uploads for customs clearance and estimation of importation costs.”– Mailpac Group
Mailpac Group facilitates online shopping and shipment to Jamaica by offering clients a US shipping/mailing address. According to their website, “The service is complemented by the ability to track packages online, electronic invoicing uploads for customs clearance and estimation of importation costs. We have over ten locations island-wide for your convenience. However, if you rather we at Mailpac also offer door to door delivery so you don’t have to stand in lines when your items arrive.”
Mailpac listed 500 million shares at $1:00 per share in its initial public offering on November 22. Its broker, NCB Capital Markets, acquired half of those shares on offer.
The Mailpac Group is the largest e-commerce company with 11 locations island-wide.