Heaven forbid the requirement for gaining a knighthood is reduced to lining your own pockets! Rod deserves respect for what he has achieved, but not a knighthood.
SNOOPY
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RadioNZ this morning had guy saying XRO will NOT WIN in the US
And Harbour guy saying XRO fat too expensive (I think that was what he was trying to say in Analyst speak)
Here it is
http://www.radionz.co.nz/audio/player/20153287
The talking heads have spoken! SELL SELL SELL!
Wonder if they were the same ones pushing Xero as worth over $50 a share or telling retailers to buy just a mere 6 months ago?
I'll answer Mr Harbour Asset managements "no comment" on Xero egging investors on as well. Of course they did. Drury is quoted as saying he hoped Xero would be worth $50 billion one day, and worries were definotely played down at AGM time.
Traders/investors most definitely had a part to play in all this as well, pushing the stock up 7-10% day after day after day chasing momentum.
The Xero bubble has popped after we all started believing it was fairly valued (complacency - huge warning sign!). We all had a part to play in the madness. Interesting times ahead.
This could get really nasty, really quickly. Lots of stock coming off escrow will most likely weigh neagtively on the stock, then couple this with the serious likelihood that it will drop out of the MSCI World Index, then you have a lot of stock that needs to find a home... Sell pressure could be huge come mid november.
Im with you Couts! I believe Xro will be a success(well,maybe not the States) Ill be waiting to jump in when the dust settles (at $5)
I do as well and think the company is great.
I think its time they cut their losses in the states and focus on the UK market until they can build up a war chest of cash ans reputation then reenter the states at a later time and capture some market share once they already have a firm grip on other markets.