Has to be Aussy buying after all the drinks yesterday.
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I was lucky enough to sell at $17.90 and bought back in $15.4 on tuesday ;) just before Xerocon.
I don't think it's anything to do with the 200k (well it's probably a little), but rather I think it's the accountant community in Australia getting behind Xero and wanting to own a piece of the action. I think the Xerocon simply solidified the product and direction to that captive audience and understandably they want to be part of the journey, rather than simply just selling it to their customers.
That's the unknown quantity I'm afraid... I believe what you are seeking is... a crystal ball!
In all seriousness it depends on what Xero announces there, and I don't mean in terms of US numbers because we all know they're next to nothing right now, but more in terms of maybe Payroll for USA or other USA dependent features that will get investors excited on that side of the Pacific. I'm pretty sure that Xero will be saving a good announcement or two for Xerocon USA simply to kick off with a bang and try and get some momentum, so I'm betting on a favorable SP rise during and immediately after the conference.
That's my completely and utterly random advice based on absolutely nothing at all. :)
They are working on US payroll - whether they can announce the roll out in time for the USCon is another question.
Does make you wonder though - if the share price was pushed up by accountants while away at a conference, how much time did they take to investigate/calcuate fair value - Accountants are meant to be conservative, not impulsive!
The Xerocon USA will probably grab attentions from the accounting industries and let people know that this is such a great product as well as investment opportunity for them. :eek2: But I guess the share price will probably be not affected because investors in US may have limited way to put their money in.
Your old traditional accountant yes - but not so much this new breed coming in. This is why I think Intuit and MYOB and Reckon and the old guard are done for, because they simply don't appeal to the new generation. Look at the link below... do those people fit your traditional view of an accountancy practice? Probably not - but this is the new world we live in, and Xero fits into that vision.Quote:
Does make you wonder though - if the share price was pushed up by accountants while away at a conference, how much time did they take to investigate/calcuate fair value - Accountants are meant to be conservative, not impulsive!
http://www.interactiveaccounting.com.au/about-us/team
[QUOTE=Shore;425453]Your old traditional accountant yes - but not so much this new breed coming in. This is why I think Intuit and MYOB and Reckon and the old guard are done for, because they simply don't appeal to the new generation. Look at the link below... do those people fit your traditional view of an accountancy practice? Probably not - but this is the new world we live in, and Xero fits into that vision.
I repeat what I posted the other day about a US poster I think who said that although the share price was weak at the time you would not want to be out of this stock when they take on the US at the Americas Cup Xerocon.If the psyched up Aussies can put on $2 then anything may happen if all goes well in the US.Someone mentioned it is like a cult following.