Covered warrant: Liquidity declined

The covered warrant market showed caution last week, as liquidity weakened compared to the prior week. However, a positive note was that the number of warrants gaining in price still outnumbered decliners, suggesting that while capital flows remain modest, they are selective and focused on potential tickers. According to valuations based on the Black-Scholes model, several CWs are currently undervalued, with CVIC2507, CVIC2508, and CVHM2515. being the most notable examples. In contrast, CVHM2520, CVPB2510, and CVRE2521 were assessed to be overvalued, based on a total sample of 245 listed CWs.