Covered warrant: Liquidity cooled down

After several weeks of strong gains, trading activity in the covered warrant market cooled somewhat last week, as liquidity saw a mild correction. Nevertheless, the number of gainers continued to dominate, indicating that capital inflow remains positive and overall market sentiment is still stable. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVHM2507, CVHM2506, and CVHM2509 being the most notable examples. In contrast, CVHM2512, CMSN2516, and CVIC2509 were assessed to be overvalued, based on a total sample of 246 listed CWs.