Powerscreen may have fallen from favour with leading fund managers after it left them nursing losses running into the millions last year. But the Dungannon-based engineering group is proving the people's choice, surfacing in more than 4,000 Sharetrack 100 portfolios to become the most popular share by a big margin.
The contestants who selected it will be glad to hear that so far they're ahead - fuelled by bid rumours, it rose by more than 42 per cent over the registration period alone, recording the sharpest rise of the 100 stocks on the Sharetrack list.
The biggest loser over the period was Iona Technologies, which appeared in 760 portfolios to become the 34th most selected stock. But the company's share price plunged by more than 40 per cent during registration as a first-quarter profit warning triggered a rout on the Nasdaq.
Other popular shares which have handsomely rewarded those who chose them include Jefferson Smurfit which has gained 28 per cent. Another popular stock America Online has proved more volatile falling back sharply after an initial surge.
However, Adare Printing, Irish Continental Group, EMI and Barlo have had more problems attracting investor interest, proving the least popular shares with contestants. Allianz, despite its status as Europe's largest insurance company, also fell into this category.
More than 9,000 entries were received for Sharetrack 100, the fantasy share competition being run by The Irish Times in association with Goodbody Stockbrokers, by last Sunday's closing deadline.
The competition got under way this week and closing prices for the first week's trading will be available tomorrow in the Business and Finance section of The Irish Times.
The first weekly winner, who will receive a cash prize of £1,000 and one year's free share dealing through the AIB Branch dealing facility, will be announced next Friday in Business This Week 2. The leaderboard of the 50 top portfolios will also be published.
From midday tomorrow, contestants will be able to carry out a weekly transaction, buying or selling shares or both. Contestants should note that since the registration period opened, British pharmaceuticals giant Zeneca has merged with Sweden's Astra and the company's name will be changed to Astra-Zeneca for the remainder of the competition.
Also, contestants who selected Nokia or Microsoft will find themselves starting the competition with twice the number of shares they were originally allocated at half the price following recent stock splits by both companies.
