Blis Technologies debuts with share trading frenzy

Shares in Blis Technologies worth more than $2.5 million changed hands this week even though the company has yet to reveal details of its activities or financial forecasts.

The 40 million 10c shares had hit $2.20 by the end of Monday before settling back to $1.35 mid-week after turnover of nearly one million shares, giving the company a value of $50-70 million.

On Wednesday the shares hit a low of $1.10 before strengthening again due to some panic-selling by shareholders who were fearful of missing out on the stagging, according to sponsoring broker Forsyth Barr.

"It's not really the kind of stock we'd promote to many clients. We have to explain that it's highly volatile."

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