Hi turmeric did you get in your trading account, or are you waiting for drop in price.
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Hi turmeric did you get in your trading account, or are you waiting for drop in price.
Shocked at the demand for this. I always knew the rest of the world would catch on.. but I didn't think it wouldn't happen this early or this fast.
@surfersteve - by that reasoning why is Twitter about to list at a US$10b valuation when it's just a SQL db backend storing textual data? what's the big deal about that?
Its ok Steve. I was only joking.
But I am amazed at the speed of the climb. While I can appreciate the big picture the price is still incredible. I don't think its too much of a leap of faith to think that a big player would pay $40 a share to take it out, depending on how big a threat they perceive it to be.
surfersteve, for someone so tech savvy, I'm surprised you don't know how to quote properly in vbForums!
It's all about perspective. When a US tech fund looks at Xero they see a well designed product and a well-led company that can address an empty market in virtually every country on the planet. Accounting, income going in and out, simple as it may be, is the bedrock of any business. If Xero can fill that void in this new post-desktop age, then arguably they could become the most valuable company in the world for small-medium businesses. When those overseas investors study Xero, that's what they see... they look at Salesforce, they look at Workday and Netsuite etc.. and they compare growth rates and mCaps and they see a big opportunity. What they don't do is look at the share price and compare it to SkyCity or Vector and get jittery about value compared to those stocks. The only people comparing Xero to NZX stocks are NZ'ers. The funding at $18.25 should have put a line in the sand on those problems and force people to recognize Xero as a global tech company, but still it seems some people are intent on comparing financial metrics with our local small exchange. It's a pointless exercise IMHO.
bought in the $3's surfersteve. ten years is a long, long time in this digital world.. who knows what the market will look like then for any of the major tech companies (facebook, google etc).. 10 years ago facebook didn't exist.