Understanding X Empire's Listing Date Impact

Intro

The listing date of X Empire on the Nigerian stock exchange is more than just a calendar event; it marks a turning point for the company and those keeping an eye on the market. For traders, investors, and finance analysts, this date can signal the start of new opportunities or challenges.

Understanding the X Empire listing date gives insight into how the company prepares to open its shares to the public, what factors influence the timing, and why it could shake up the market. It’s not just about timing; it’s about grasping the implications on stock prices, investor confidence, and the broader economy.

This article will break down the entire scene around X Empire’s listing date—from the steps leading to it, the risks and rewards involved, to how investors can track and respond to this event.

By the end, you'll gain a clear picture of what’s at play for X Empire and why paying attention to this date matters in a fast-moving market like Nigeria’s. It’s essential knowledge for anyone looking to make informed decisions and stay ahead in investing.

What the Empire Listing Date Represents

The listing date of X Empire marks a significant moment when the company's shares officially begin trading on the stock exchange. This date is more than a formality — it essentially signals the company stepping into the public eye, making its financials open to market scrutiny and allowing investors to buy and sell its shares freely. Understanding what this date means helps traders and investors grasp the company’s transition from private to public ownership, which influences their investment decisions and market expectations.

Definition of Listing Date

Clarifying the Term Listing Date

The listing date refers to the exact day when a company's stock starts trading on an official stock exchange, like the Nigerian Stock Exchange (NSE). Before this date, while investors might have purchased shares in a private placement or during the IPO, these shares can’t be freely traded. On the listing date, shares become available to the general market, creating liquidity and an open marketplace.

In practical terms, the listing date is when the ticker symbol for X Empire first appears on trading screens, and buyers and sellers can exchange shares. It’s important to note this isn’t the same as issuing shares to the public but rather enabling those shares to circulate in the open market.

Difference Between IPO Date and Listing Date

People often mix these two up, but there’s a key distinction. The IPO (Initial Public Offering) date is when the company offers its shares for sale to the public for the first time, often through allotment to interested investors. This might happen days or even weeks before the listing date.

The listing date, on the other hand, is when those shares become officially tradable on the stock exchange. Consider IPO as buying a book before it hits the bookstore shelf, and listing as the day the book actually becomes available on the shelves for anyone to buy or sell. In Nigeria, it’s not uncommon for this gap to be brief but understanding the difference helps prevent confusion when tracking share performance.

Importance for the Company

Access to Capital

The listing date is the company's gateway to tapping broader capital sources. Once listed, X Empire can attract new investors by issuing more shares in future rounds. This capital influx can fund expansions, research, or reduce debt. For example, after listing, companies often find it easier to secure loans or negotiate better credit terms since public companies have transparent financials.

Market Visibility

Being listed shines a spotlight on X Empire. The company's name appears in daily market reports, stock apps, and financial news, drawing attention from local and international investors. This visibility can boost brand recognition and open doors to new business partnerships or customer trust – aspects that aren't easy to quantify but matter immensely.

Credibility With Investors

Fundamentally, the listing date signals that X Empire has met various regulatory and compliance standards, which can increase investor confidence. Investors view listed companies as more transparent and accountable. For instance, since listed firms must regularly disclose earnings and operations, this reduces the perceived risk. In Nigeria, where market trust can waver, being on the NSE can significantly boost a company's reputation among investors.

The listing date isn’t just a day on the calendar; it’s a clear signal to the market that X Empire is ready for business under public scrutiny. This transformation opens up new doors for capital, visibility, and trust.

Understanding these nuances prepares investors and traders to navigate the opportunities and challenges that come with X Empire joining the public market.

Key Milestones Leading up to the Listing Date

Before X Empire officially shows up on the trading board, several important steps have to happen. These milestones aren't just box-ticking exercises; they lay the groundwork for a smooth and successful market debut. For investors and analysts alike, understanding these stages gives a clearer picture of the company's readiness and the risks involved.

Regulatory Approvals

Role of the Securities and Exchange Commission (SEC)

In Nigeria, the SEC acts like the gatekeeper for companies going public. Their job is to make sure firms like X Empire disclose all the necessary info, so investors aren't walking in blind. Getting the SEC's nod means X Empire met specific transparency and financial standards. Without this approval, the listing can't proceed — it's the regulatory green light ensuring the company plays by the rules.

Think about it this way: if a company was throwing a party, the SEC is the neighbour making sure there's no wild chaos. Their oversight does more than just protect; it builds trust in the market, reassuring investors that the company is above board.

Compliance Requirements

Meeting compliance isn’t just about ticking regulatory checklists. For X Empire, it means preparing detailed financial reports, audit confirmations, and adhering to Nigerian Stock Exchange policies. This includes timely disclosures of any material changes and following laid-down corporate governance principles.

Failing here can lead to delays or worse, sanctions that spook investors. For example, Harmon Energy faced delays in 2022 due to incomplete compliance documentation, pushing their listing back by three months. So, compliance is both a protective shield and a marker of credibility.

Preparation and Documentation

Filing the Prospectus

The prospectus is the company's storybook for potential investors. It lays out financial health, risks, business model, and plans for using funds raised. For X Empire, this document needs to be crystal clear, comprehensive, and compliant with SEC standards.

A well-drafted prospectus helps investors make informed decisions and reduces misunderstanding or hype-based speculation. You can think of it as the company’s résumé — if it’s sloppy or vague, investors might just walk away.

Due Diligence Process

Due diligence is the nitty-gritty fact-checking stage. It’s where underwriters, regulators, and company auditors dive deep to verify all claims made in the prospectus and company filings. This process uncovers potential issues, from financial inconsistencies to legal concerns.

For example, during the due diligence for GTBank's IPO years ago, discrepancies in asset valuations were spotted early, allowing for corrections before the listing. This step protects everyone involved and lays out a realistic picture of the company's status.

Getting through these milestones successfully sets the stage for a smooth listing day. It builds confidence among investors, reduces surprises, and can positively affect the company's share price once trading begins.

In summary, the path to X Empire’s listing date involves careful regulatory approvals and thorough preparation. Every step acts as a guardrail ensuring the company is ready to face the market and that investors have the info they need to make sound choices.

Market and Investor Reactions on the Listing Date

The listing date of X Empire is a big event that often triggers a flurry of market activity and investor emotions. On this day, traders and investors closely watch how the stock behaves to gauge confidence in the company’s future. Market and investor reactions offer a snapshot of sentiment, liquidity, and potential risks, shaping early perceptions that can influence the stock's trajectory.

Trading Activity on First Day

Volume trends

First-day trading volumes typically surge as demand for the newly listed stock spikes. For example, when MTN Nigeria listed on the Nigerian Stock Exchange, the trading volume on launch day was several times higher than its average daily volume, signaling strong investor interest. High volume indicates healthy liquidity, allowing traders to enter or exit positions with relative ease. Observing these volume trends helps investors understand if there is genuine enthusiasm or just short-term speculation.

Price volatility

Price swings tend to be more pronounced on the listing date compared to regular trading days. The lack of an established trading pattern leads to uncertainty, causing prices to bounce between extremes. For instance, during Jumia Technologies’ debut, volatile price movements reflected mixed investor expectations about the company’s profitability and growth. Investors should expect this rollercoaster and avoid panic selling during the initial turbulence, as prices often stabilize once the market digests the new information.

Investor Sentiment and Expectations

Positive indicators

Strong demand and a price opening above the IPO price are early signs that investors believe in the company's potential. When Dangote Cement listed years ago, the immediate investor enthusiasm propelled prices upward, boosting confidence in long-term gains. Positive sentiment often encourages continued buying, providing capital for the company and promising healthy returns for shareholders.

Potential concerns

Despite excitement, some investors may worry about overvaluation or market timing. If the stock opens significantly higher but then declines sharply, it can signal speculative bubbles or doubts about future performance. Moreover, unfamiliarity with the company's fundamentals or industry risks can restrain investors. Keeping an eye on such concerns helps traders avoid getting caught on the wrong side of sudden drops or inflated prices.

Understanding these initial market and investor reactions is vital. They don’t just affect X Empire’s stock price on day one; they set the tone for how the company is perceived by the investing community moving forward.

How to Track the Empire Listing Date

Keeping tabs on the X Empire listing date is more than just marking a day on the calendar. For traders, investors, and analysts, it’s a key moment that can signal shifts in the market or open new opportunities. Knowing when and how X Empire joins the stock exchange helps you position your portfolio and catch market moves early.

Tracking this date means staying informed through reliable sources and using handy tools designed for real-time updates. This minimizes guesswork and keeps you on the front foot when the company officially opens its shares to public trading.

Sources of Reliable Information

Official stock exchange announcements

One of the most trustworthy ways to verify the listing date is through announcements directly from the Nigerian Stock Exchange (NSE) or the relevant exchange X Empire is listing on. These announcements are often the first and most accurate word on exact dates, changes, or any delays.

The NSE regularly updates its website and releases press statements concerning upcoming listings. This is critical for avoiding rumors or misinformation. For example, when Airtel Africa listed, the NSE provided clear timelines and explanations, allowing investors to plan accordingly.

Always cross-check dates and details with these official communications to ensure you're acting on accurate data.

Company press releases

Besides the exchange, X Empire’s own press releases are a vital source for the listing date and accompanying details. Companies typically issue clear, concise information about timing, share allotments, and listing conditions.

These releases also offer insight into the company’s expectations and strategies, which can signal how the market might react. For instance, if X Empire highlights strong financials or growth potential in their release, investors get more confidence about entering early.

Keep an eye on X Empire’s website and official communication channels; signing up for their newsletter or updates can save you a lot of legwork.

Tools and Platforms for Monitoring

Financial news websites

Dedicated financial news platforms like BusinessDay, Nairametrics, or Bloomberg Africa play a big role in spreading the word. They don’t just repeat press releases—they analyze, compare, and offer market context around the listing.

Using these sites, you get timely updates on announcements and a deeper understanding of market sentiment. Their alerts and headlines can be a quick way to stay sharp without diving into dense official reports.

Following these sources is like having a fast-news buddy who sifts through all the noise and brings you the facts tailored for the Nigerian market.

Mobile apps for stock tracking

Today’s savvy investor can’t be tied to a desk. Mobile apps such as CardinalStone, Chaka, or Bamboo provide live notifications and real-time data to track specific stocks or IPO events like X Empire’s listing.

These apps often let you set alerts for date changes, price movements, or trading volume surges. For instance, the Chaka app lets you follow new listings and get instant news flashes right in your pocket.

They also provide handy features like viewing historic price charts and setting watchlists, which help you keep an eye on overall investment health as the new stock debuts.

Staying informed through multiple channels sharpens your edge. Official announcements and company releases give you the facts; financial news sites add interpretation; mobile apps offer convenience. Together, these tools create a sturdy framework for tracking crucial dates like X Empire's listing.

By blending official information, timely news, and smart tech, investors can confidently navigate the waters around the X Empire listing date. Ignoring these tools would be like sailing without a compass—unnecessary and risky in today's fast-moving markets.

Risks and Challenges Associated with the Listing Date

When a company like X Empire marks its listing date, it's not all smooth sailing. Several risks and challenges come into play, affecting investors, traders, and the company alike. Understanding these factors is critical for anyone looking to make informed decisions during this transitional phase.

Market Volatility Impact

Price swings on debut

The first day of trading for X Empire’s stock can be a rollercoaster. Prices often swing wildly due to a mix of speculation, limited supply of shares, and fresh investor enthusiasm. For example, if a big chunk of investors rushes to buy, the price may surge unrealistically high, only to tumble later as profit-taking sets in. This volatility isn’t just numbers shifting — it reflects uncertainty about the company's true market value and investor sentiment.

For traders, this means the listing day offers both opportunity and risk. Those savvy enough to spot swings can capitalize on price gaps, but newcomers might get caught off guard by sudden drops. To navigate this, it's wise to monitor volume trends closely and avoid impulsive trades solely based on hype.

Managing expectations

The big day often comes with sky-high expectations — some realistic, others inflated by media buzz or hearsay. Investors might hope for quick gains, but the truth is the first-day price may not reflect the company's long-term potential.

Managing these expectations is crucial. Financial advisers recommend looking past the opening day frenzy, instead focusing on the fundamentals and the company’s ongoing performance. Maintaining a balanced view helps prevent rash decisions spurred by short-term market noise. For instance, if X Empire was priced at ₦800 per share initially but falls to ₦650 after a week, it’s not necessarily a disaster, but rather the market settling in.

Regulatory and Compliance Risks

Potential delays

Listing a company is rarely a plug-and-play event. Regulatory hurdles can slow down or even stall the process. In the Nigerian context, approvals from bodies like the Securities and Exchange Commission (SEC) are mandatory, and any missing paperwork or compliance gaps might push back the date.

These delays affect everyone. Investors waiting to jump in might miss prime opportunities, and the company could face increased costs or shaken confidence. A case in point is when some firms aiming to list on the Nigerian Exchange Limited (NGX) faced months-long delays due to incomplete disclosures.

Disclosure requirements

Transparency is the backbone of any listing. Companies must disclose extensive financial data, risk factors, and business strategies to pass regulatory muster. If X Empire fails to provide thorough and accurate information, it exposes itself to penalties or de-listing.

For investors, this means vigilance. Scrutinizing the prospectus and subsequent financial reports ensures they’re not blindsided by undisclosed risks. Practically, it pays to track company announcements regularly and cross-check info from reliable sources like NGX press releases.

By appreciating the risks and challenges linked to the listing date, investors and traders can better steer their course, avoiding pitfalls while maximizing the benefits from X Empire’s market debut.

In summary, while the listing date opens doors for capital and growth, it comes with bumps along the road. Price swings, sky-high hopes, regulatory snags, and disclosure demands all need careful handling. Knowing what to expect can make all the difference between getting burned and riding a successful market wave.

Benefits for Investors from the Listing Date

The listing date of X Empire opens a window of opportunity for investors to engage more directly with the company's growth story. It's not just about putting a stock on the market—it’s about making investment accessible and transparent. For investors, the listing date signals a shift where they gain critical access to company information and market participation opportunities that weren’t readily available before.

Opportunities for Early Investment

Potential for gains

Investors who jump in near the listing date often find a chance to capitalize on early gains. When X Empire's shares first hit the market, price fluctuations can be wide, creating chances for savvy traders to buy in before the price stabilizes. For example, if the company rolls out strong quarterly numbers soon after listing, early investors could see meaningful upticks in share price, reflecting growing confidence.

But it's important to note these gains aren't guaranteed. The rarity of some listings in Nigeria means market responses can be unpredictable. A good practice is to combine market buzz with a solid review of the company’s business model and growth potential before diving in.

Understanding valuation

Valuation at the time of listing offers a snapshot of how the market views X Empire’s worth based on current financials, growth prospects, and industry position. This helps investors decide if the stock is undervalued or overpriced at debut.

For instance, an investor looking at valuation ratios such as Price-to-Earnings (P/E) or Price-to-Book (P/B) should compare these to industry averages. If X Empire’s valuation seems significantly lower compared to peers like Dangote Cement or MTN Nigeria, this could mean a buying opportunity—assuming fundamentals are solid. On the flip side, an excessively high valuation might warn investors to stay cautious.

Improved Transparency

Access to financial reports

One of the biggest wins for investors when a company lists is gaining regular access to its detailed financial reports. Listed companies like X Empire are required to share quarterly and annual financial statements, providing a clear view of earnings, debts, revenue streams, and cash flows.

This transparency lets investors monitor the company’s health without relying on hearsay or outdated data. For example, seeing a steady growth in revenue but an increasing debt ratio can help investors evaluate risks better and adjust their strategies accordingly.

Regular disclosures

Beyond the standard financial reports, listed companies must provide ongoing disclosures about any material changes—such as executive shifts, mergers, or regulatory issues. This ongoing stream of updates keeps investors in the loop and curbs surprises that can impact stock prices negatively.

Regular disclosures ensure that investors don't feel blindsided by sudden shifts; instead, they get timely, official information to base their decisions on.

For traders and analysts alike, this means less guesswork and more reliable insights. Keeping up with these disclosures through official announcements or platforms like the Nigerian Stock Exchange website helps maintain an informed stance on investments.

In summary, the listing date doesn’t just mark a new chapter for X Empire—it unlocks practical advantages for investors. From seizing early investment opportunities to getting clear, ongoing financial data, the benefits are tangible and essential for those aiming to navigate the Nigerian stock market savvy.

Impact of the Listing Date on the Nigerian Stock Market

The listing date of X Empire is more than just a calendar event; it holds significant influence over the Nigerian stock market’s dynamics. When a new player like X Empire enters the exchange, it can shift trading patterns and affect how investors perceive market conditions. Understanding this impact helps investors anticipate changes and make smarter decisions.

Influence on Market Liquidity

Adding new shares to the market

When X Empire lists its shares, it effectively increases the total number of shares available for trading on the Nigerian Stock Exchange. This influx can boost liquidity, making it easier for investors to buy or sell shares without causing drastic price changes. Think of it like adding more water to a pot; it becomes less likely to boil over or run dry quickly.

Practically, enhanced liquidity means tighter bid-ask spreads and quicker execution of trades. For example, during the listing of Guaranty Trust Bank in the past, liquidity surged, which attracted more day traders seeking swift market entry and exit points. Investors should watch how these new shares perform, as their availability can reduce volatility caused by low market depth.

Effect on trading volume

With a higher number of listed shares, trading volume often experiences a noticeable uptick. More shares on the market lead to more activity, and with increased volume, the market becomes more responsive to news and economic shifts. For instance, the recent listing of 9mobile saw a spike in daily trading volume, highlighting how new listings ignite fresh investor interest.

Volume increases provide clues about market sentiment and help validate price movements. A surge in volume during X Empire’s listing could indicate robust demand, while sluggish volume might signal investor caution. Monitoring volume closely gives traders a practical edge, helping them identify entry points or signals to hold back.

Boosting Investor Confidence

Attracting local and foreign investors

A successful listing like X Empire’s doesn’t just pull in everyday Nigerian investors; it grabs the attention of foreign portfolio managers and institutional buyers. This increased interest helps diversify the investor base, adding fresh capital and promoting stability.

Take Dangote Cement's IPO as a reference—it attracted significant foreign investment, which in turn helped stabilize prices and stoked market activity. For Nigerian investors, this means their shares could benefit from heightened demand and potentially better price support.

Enhancing market reputation

Every new listing that goes smoothly adds a layer of credibility to the Nigerian stock market. It signals to international markets and local participants alike that the market is growing and becoming more attractive. This enhanced reputation may lead to more listings down the road, further enhancing market depth.

A well-managed listing encourages regulatory bodies and market players to tighten governance and transparency. Over time, this builds trust and encourages long-term investment rather than speculative trading. Broader market reputation boosts can lead to a virtuous cycle of rising market standards, benefiting every investor involved.

An impactful listing is like a vote of confidence in the market's health and potential, encouraging more players to join and build on the momentum.

In summary, the X Empire listing date not only marks a beginning for the company but also strengthens market liquidity, trading volume, and investor confidence in Nigeria’s stock market. Keeping an eye on these factors can provide useful insight for anyone seeking to navigate the vibrant Nigerian capital market.

Comparing Empire's Listing Date to Other Recent Listings

Comparing X Empire's listing date to other recent IPOs in Nigeria provides valuable context for investors and analysts alike. It helps to frame X Empire’s debut within current market dynamics, facilitates a better understanding of its potential trajectory, and highlights underlying trends shaping the Nigerian stock market. By examining how X Empire stacks up against peers, traders can make informed decisions beyond just headline numbers, spotting patterns or anomalies unique to this launch.

Trends in Recent Listings

Sectors Seeing Most Activity

The Nigerian stock market has recently seen a flurry of listings from tech startups, fintech companies, and consumer goods manufacturers. For instance, companies like Flutterwave and Paystack, before their acquisition, showed how fintech was capturing investor interest. Consumer goods firms such as Dangote Sugar Refinery have also made headlines for their market moves. These sectors typically attract investors because of Nigeria’s growing middle class and rising digital adoption.

Understanding which sectors are hot reveals where investor appetite currently lies. For X Empire, knowing if it falls within a booming sector like fintech or energy can signal potential momentum. If it's entering a crowded space, it may face stiffer competition for capital. Conversely, if it pioneers a lesser-known sector, it might appeal to investors looking for diversification.

Timing and Market Conditions

The timing of X Empire’s listing is just as important as its sector. For example, companies listed during periods of economic uncertainty or currency volatility often face turbulent price action initially. Listings during government policy announcements or post-election periods can also experience unusual trading patterns.

Take the case of companies that debuted during the early 2023 naira devaluation phase—many saw wide price swings on their first day, influenced more by macro factors than company fundamentals. Investors need to consider market conditions around the listing date to temper expectations realistically. For X Empire, catching the right market wave could boost reception, while poor timing might dampen initial performance.

Performance Comparisons

Stock Price Movements

Comparing X Empire’s stock price movements to other recent listings offers insights into investor confidence and market stability. For example, companies that enjoyed steady price gains post-listing like MTN Nigeria showed strong market endorsement and solid fundamentals. In contrast, others such as some junior mining firms faced sharp declines due to overvaluation or profit-taking.

Monitoring price volatility provides an early signal of how well the market digests the new stock. Sharp initial rises followed by pullbacks might indicate speculative trading rather than long-term confidence. This helps investors decide whether to hold on, buy in, or stay cautious.

Investor Reception

Investor reception goes beyond share price; it includes subscription levels during IPOs, participation rates, and post-listing trading enthusiasm. High subscription rates often suggest strong demand, while muted activity can imply uncertainty or oversaturation.

For example, the highly anticipated listing of Oando Plc saw broad investor interest, reflecting confidence in established sectors like oil and gas. If X Empire manages to attract similar enthusiasm, it could suggest a positive outlook. Conversely, lukewarm reception might signal potential hurdles ahead.

Understanding these comparative factors helps stakeholders gauge whether X Empire's debut aligns with successful precedents or stands out for better or worse. It’s like sizing up a player before the big game—knowing the competition’s form means fewer surprises.

By analyzing sector trends, market timing, price moves, and investor sentiment linked to recent Nigerian listings, investors get a fuller picture of what X Empire’s listing might mean in the grand scheme. This comparison is not just about numbers but grounding expectations in real market behavior.

Post-Listing Expectations and Responsibilities for Empire

After the excitement of the listing day wears off, X Empire faces a new phase filled with ongoing duties and expectations. This stage is crucial not just for maintaining the trust built up during the IPO but also for sustaining investor confidence and market credibility. Companies like MTN Nigeria PLC and Dangote Cement, for instance, have shown how post-listing discipline affects long-term success on the Nigerian Stock Exchange.

Keeping the business transparent and accountable is more than just ticking regulatory boxes; it’s about building a lasting relationship with shareholders and the broader investment community. How X Empire handles these responsibilities will shape not only their financial standing but also how investors perceive their reliability and potential growth.

Maintaining Compliance

Ongoing Reporting Duties

Maintaining compliance means X Empire must regularly disclose financial and operational data to the market. This includes quarterly financial statements, annual reports, and any material events that could influence the stock price. For example, if a new contract is signed or there’s a leadership shakeup, transparency is essential to keep shareholders informed.

These reports aren't just paper shuffles—they offer real insights into the company's health and progress. Meeting deadlines set by the Nigerian Exchange Group (NGX) is mandatory, and timely reports prevent penalties or a loss of investor trust. Take GTBank’s reporting consistency as an example: their clear, regular updates have helped maintain confidence among investors even during market downturns.

Governance Standards

Good corporate governance is the backbone of a reputable listed company. It involves following ethical guidelines, ensuring board independence, and guarding against conflicts of interest. X Empire will need to have a governance structure that promotes accountability and fairness.

For practical purposes, implementing a strong audit committee and clearly defining roles within the board keep things transparent and efficient. Nigerian companies like Access Bank have shown that holding annual general meetings open to shareholder questions and having diverse boards can greatly enhance governance credibility.

Engaging with Shareholders

Dividend Policies

How X Empire manages profits and dividends affects how investors view the company’s stability and growth potential. Will dividends be paid regularly, or will profits be reinvested for expansion? Clear communication about dividend strategies helps investors set realistic expectations.

For example, companies like Unilever Nigeria offer a steady dividend payout that attracts income-focused investors, while tech companies sometimes retain earnings to fuel innovation. X Empire should decide and communicate its approach early to avoid creating uncertainty.

Communication Channels

Staying connected with shareholders is more than just quarterly reports. X Empire should employ multiple communication channels like investor relations websites, emails, and social media to keep the conversation going.

Transparent and responsive communication builds trust. For instance, companies who actively engage through webinars or investor calls during earnings season tend to keep shareholders better informed and more satisfied. This two-way dialogue can also help management gauge investor sentiment, which is invaluable for making strategic decisions.

Clear and consistent post-listing management isn’t just about compliance—it’s about earning ongoing support from the market. How X Empire handles these responsibilities will define its reputation long after the listing date itself.