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:
Constellation Resources Limited (ASX: CR1)
This company is a resource exploration business. It holds the Orpheus Project, which comprises five tenements covering approximately 552km² in a prospective portion of the Fraser Range province of Western Australia. The region could have nickel, copper and gold after a discovery in 2012.
It was looking to raise money at $0.20 per share and it's currently trading at $0.305, which shows a quick 52% return.
Tempus Resources Ltd (ASX: TMR)
Tempus is also a resource exploration business. It has a 90% interest in a business which is the registered holder of the Montejinni Project in the Northern Territory and the Claypan Dam Project in South Australia. Its focus will be looking for copper but it will also look for other resources.
It was also looking to start trading on 30 July 2018, but it appears to not have made it onto the boards. There is no new expected listing date according to the ASX.
Neuroscientific Biopharmaceuticals Ltd (ASX: NSB)
It's a biopharmaceuticals business. It is developing peptide-based pharmaceutical products that target a number of neurological disorders that have high unmet medical needs. The current R&D program is focused on developing a treatment for stroke-related brain injury and dementia / Alzheimer's disease, and a diagnostic for early-stage Alzheimer's disease.
It was looking to raise money at $0.20 per share and it's now trading at $0.25 per share, showing a quick 25% gain since listing last week.
Foolish takeaway
If I had to invest in one share it would be Neuroscientific Biopharmaceuticals as I'm really not a fan of resource shares in general. However, they are all too speculative for me, so I'm personally going to invest in other things.
