The first week of a company being on the ASX boards can be very telling. The market doesn't get any new information until the next quarterly or half-year result, so we can get a sense of the market sentiment from how the share does in its first week.
Of course, how the market treats a share doesn't ultimately mean anything. But, it can be interesting nonetheless.
Here are how the latest ASX shares fared:
Eagle Mountain Mining Limited (ASX: EM2)
Eagle Mountain Mining was meant to list onto the ASX on 9 March 2018 at $0.20, but subsequently listed on 16 March 2018.
Its principal activity is mineral exploration with a primary focus on exploration for copper and gold. The capital is going to be used specifically to acquire the Silver Mountain Mining Trust from the Bass family, it's a USA copper-gold exploration project.
The share price finished on Friday at $0.34 and finished yesterday at $0.30. This means the share price has gone up by a whopping 50% for the initial investors.
Trimantium GrowthOps Limited (ASX: TGO)
Trimantium GrowthOps was meant to list on 12 February 2017 at $1, but it ended up listing on 16 March 2018.
Its principal activity is described as 'technology based business advisers providing end-to-end growth solutions in: software development, cloud services, system integration, marketing communications, positioning, brand strategy, customer experience and leadership development.'
The company's website says that it is working with companies to create new products and services and help them grow. Its aim is to help organisations maximise their long-term value and impact through growth-focused and technology-driven solutions.
This idea seems to resonate with investors as the share price finished at $1.32, which means the share price has grown by 32% for the initial investors.
Foolish takeaway
Both shares are off to a flying start, but I wouldn't expect another 30% over the next week. Trimantium GrowthOps sounds like the better investment to me – I'm not a huge fan of resource stocks. But, I wouldn't invest at today's price. I'd want to see 12 months of ASX reports to see how it's performing before buying.
