Megnut

megnut on BlogShares

I haven't been following BlogShares too closely -- though I think it's interesting, given my new-found interest in all things market -- so I was very surprised to see that megnut is trading at $1,186.79. Does anyone have any idea why the share price has climbed so much? On June 2 it was only trading at $358.33, what happened? While you're at it, could you also explain to me why megnut is the #1 blog in the gay category?

There are 8 responses

There's a couple of people who seem to have spotted a weakness in the Blogshares mechanism: They keep alternatingly selling and buying shares from each other; if the number of sold shares is minimal, the price per share wont't go down on selling, but it will go up with each bought share. See what they've been doing to the value of my blog over the past few weeks at http://www.blogshares.com/blogs.php?blog=http%3A%2F%2Fmailbox.univie.ac.at%2F%7Eprillih3%2Fblog%2F&user=4448

gothamist has shot up over the last month too- it was trading close to $3000 the last time I checked- which seems ridiculously high. I noticed our priced jagged up after Anil linked to us from the MT homepage- but there might be other reasons too.

Was there some kind of reverse split? There are only 5000 shares available for megnut, but 300,000 shares available for BoingBoing, for example.

blogshares remains a mystery to me... but I am new to the blogging universe... my shares are trading for 20 cents, so there is pretty much no where to go but up from here :)

Because you're FABULOUS!

Meg:

The reason your shares went way up is that recently the maximum P/E ratio was raised. The whole market swung way up. You'd probably be well off by spitting your shares so that each one is only worth $50-$100.

Will:

Seyed split BoingBoing and the other big boys (MovableType, Blogger, UserLand) into a lot of shares because of their size. If you want more shares for your blog you can offer them.

Charles:

Stick with it. I made real money off it. I sold off my spare cash for $100. Not bad at all!

You rule the category because when people think blithe, gay and carefree, they think "Megnut". (Also, I think there's a flaw in the system. I'm king of the flautists, apparently.)

Just know that there's a community there to support you when YOU'RE ready to tell us why you're #1, Meg.

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