Have you included the new issue of 9,917,358 shares? The total amount of shares on offer is now 127,523,561.
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Oh right - so NZX hasn't updated? I see 117,606,203 recorded with mcap of $2,716,703 (SP 23.10)
Well their formulas and calculations are pretty worthless. Usually a tech stock does private funding rounds, gets some traction and then publicly lists at the right time (like Twitter is doing now). Xero is completely unique is that we've all got front row seats to an explosive tech company with global aspirations - the investors just need to hang in for the ride and the brokers.. well.. they need to play catch up.
Anyone has any contact with brokers, as to where the funds are flowing from...is it o'seas investors.
Very hard to focus on actual work right now...
I wonder where its going to stop.. next sell is 24.50
Thats exactly right. Typically companies like Xero don't get listed so early and these sorts of gains are reserved for the VC's. These "revaluations" normally occur off market and not in public.
I've been in from day 1 of their ASX listing. I was always keen on Xero from day 1 of their NZX listing but could not be bothered with the hassle of funding my dormant NZ broking account. Ugh. Still, i've enjoyed the run up from $4.50.
Payroll will be a big kicker for the US sales. Its been a massive project for them. They have had to consider each states different tax treatment. 50 version of the payroll module...
That said as a user of Xero i'd like to see them focus on some of the glaring basic functionality that is still missing - ie multiple contacts on invoices, better recurring invoices etc. Real simple stuff which the existing client base has been screaming out for (for years!). Instead they've ignored these requests in favour of bigger growth opportunities....which as a shareholder I support.