Rod Drury: Dear IRD: how to shave $1b from your $1.5b software spendup
http://www.nbr.co.nz/article/dear-ir...lion-ck-139462
If you choose to invest in Xero, you need to trust Rod Drury.
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Rod Drury: Dear IRD: how to shave $1b from your $1.5b software spendup
http://www.nbr.co.nz/article/dear-ir...lion-ck-139462
If you choose to invest in Xero, you need to trust Rod Drury.
Yeah they kind of glossed over the differences between the the two, but it was there.
In the year to date the Wellington-based company's stock has gained a whopping 80 per cent, valuing the business - which doubled revenue to $39 million in its last full year but is reinvesting for growth and is yet to turn a profit - at $1.5 billion.
New York-based Diligent, which has developed software used by company directors and tripled its annual profit in its last financial year, has seen a 32 per cent lift in its share price since January, driving its market capitalisation up to $607.4 million.
Still big "international" purchases being placed this morning. Last one is $13.90. I would have thought that this implied some optimism. Seems an odd thing to do based on yesterdays performance. Gonna be an interesting morning.
Xero: A billion-dollar software company that had five years in stealth at the bottom of the planet
"Calling Xero a “global company that started in New Zealand,” Drury says he plans to list on a US stock exchange once it reaches $100 million in revenue, which he thinks will happen in the next couple of years. Having already experienced an acquisition with AfterMail, he wants more."
http://pandodaily.com/2013/05/01/xer...of-the-planet/
Watch out, you'll be playing with fire. Stocks that have risen fast like Xero tend to fall even quicker. I would not have a set price in mind as this thing could realistically go back to $5-$7. Not saying there isn't good money to be made by re-entering, I'm just saying be VERY careful :)
Panic selling has certainly set in. $11.80 with few buyers in sight. I'm sure they'll build up though.
The change was too fast. I was not able to place an order buying @$11.90.
There was support at $13 yesterday. Not there today.