Especially if they do a 2.2:1 share consolidation!! :lol:
Printable View
When the amount, price and date match you sure do.
One thought I had is that by selling 10% of his shares so low, Eugene successfully created a lot more interest in the company and a buying frenzy, not least here on Sharetrader but also amongst directors. Thus increasing the demand for the remaining 90%.
In this he was undoubtedly successful but why then sell out at 32c? Waiting a few months more for further confirmation/increase of guidance and resumption in dividends would have substantially increased demand, the share price and the value of his stake.
I guess Eugene is also obviously not a big believer in 2CC's current strategy. The difference in google reviews at Wairau are stark, 2.9 for 2CC and 5.0 for NZCC.
I assume this to be the case too.
A good question to ask at a future AGM is whether 2CC buying operation in Japan works exclusively for the company. This is 2CC's real competitive advantage as comments from the Turners CEO re difficulty in sourcing EVs from Japan make clear. Wouldn't surprise me if it was helping NZCC source stock or if Sena passed on some contacts.
I see the two companies more as complementary than competitive as they focus on different segments of the used car market. The old Noel Leeming/Bond and Bond one stop shop approach to retail (studies show consumers like to compare products at an average of two shops before buying). May even merge again in the future! :D
Jeez …four wheels not the same size
We were not informed the car we bought was hit prior and was repaired not properly and unsafely, furthermore four wheels are not in same size, until it has been examed by a motor workshop recently. We will never come back and we will disclose to friends for the dishonored behavior of this car dealer.
Lots of reviews like that unfortunately Winner. Most predating current management but still. Reminder of the industry, second hand cars and their sales people don't have a great reputation after all.
You read the replies by the owner for NZCC next door Winner? 2CC used to have the similar replies before the bust up last year so these might be by Eugene himself. He clearly prefers a higher level of customer care where 2CC current strategy prefers higher margins. The source of the bust up (under unusual COVID induced finance stress)?
Car dealers.
I think of the guy in ChCh who bought a new Bentley from the local franchise.
Sued the dealer for advertising it as the best car made.
He had nothing but trouble with it.
Ended up getting his money back and bought a Lexus.lol.
Have watched the meteoric rise followed by the dump, where to next. Low share volume though
I want more doom and gloom.