I am in good company in a good company..lol.
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Ticker code change and name change 0n 26th June.
2CC.2 Cheap Cars Group ltd.
https://www.nzx.com/companies/2CC
Start of a new era aye Percy
Maybe. It's more concerning to me that this is all NZX can put up for investors.
Our market is becoming, or maybe already is, a joke. If we're forced into to considering investing in a two-bit vehicle low-end cost sales company, what hope is there for the market overall. Better just to pick a few of the sustainable earners and get into them when the market decides they're 'cheap as'. And hold for the earnings, whether or not they make any capital gains.
I refuse to get excited about a low-cost vehicle sales company who markets themselves as 'cheap'. I really don't like the association with 'cheap', but this is what our NZX is serving up to us, is this as a good as it gets? It seems so.
Great post Baa Baa....
Siverblizzard88.We may get our orders filled a little cheaper tomorrow when their listing name changes to 2 cheap cars..Fine thing to invest in The Colonial Motor Company or New Zealand Automotive Investments ,but 2 cheap cars.??.
Bring on tomorrow..May have to increase our buy orders.?...lol.
The NZX has been a concern for a long long time now, their failure to draft up a good number of IPOs is laughable at this stage. They know they have this problem and they’ve tried firstly to reinvent the exchange itself by having an alternative exchange, then they gave up and tried restructuring fees and listing rules. I’m not sure if they do it or not but it seems what they never tried was engaging with companies when they’re young or form partnerships with companies that do do that. How does Snowball Effect have over 100 companies they’ve raised capital for and not one single one has gone on to be a listed company on the NZX.
These days we lose more companies from takeovers like Pushpay and quite possibly Eroad soon than we get in new listings. Even the ASX gets more NZ listings than NZX does, which when you consider the initial listing fee for the NZX is roughly $38k and the initial listing fee for ASX is $56k AUD, companies prefer to go to the ASX even when it cost more, usually with the assumption that its easier to raise capital there and they might be right. Though I feel like platforms like Sharesies has actually changed the landscape for investing in NZ as its made it easier to raise money. During the Infratil capital raise recently people on sharesies were outraged that they only got 5% of the shares they wanted, I think the demand for investing in companies is there, what never changed during that time was the companies wanting to raise money on the NZX and NZX’s engagement with these companies.
It is true that it should be a concern that one of the highest potential for a good gain in this market isn’t a top tier innovative high growth company, but one of the most straight forward businesses around, that is in the middle of a turnaround with a majority shareholder having a hissy fit and trying his best to throw all his shares out the window. What can I say, I wish it was better, but in honesty I’m not sure the NZX knows how to turn this around given how much time they’ve been trying and I’m surely no influence on them, so I’ll just make the most of whats available and buy some cheap shares in a company selling cheap cars!