Dreamland stuff.
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North American total subscribers of 110k is underwhelming. Only 18k added in 7 months..
Is it time to think about merging the two exchanges again - if they will have us!
Some of the bigger NZ and not so big companies are dual listed
XRO now who will be next??
With the SP currently up 80% in the past 12 months and a little over 20% in the past 2 months, I think that the current pullback is to be expected.
The stand-out growth figures from the UK had already been released a few weeks back and I don't think that the subscriber numbers from any of their other markets are even close to matching out-performance of the UK growth. Personally I was expecting better growth from both AU and US markets.
Will be interesting to see what happens on the ASX today to see if it is just sour grapes about the NZX-delisting for the sell off or something more.
I think that the SP has got a little ahead of itself in the past few weeks and think that $30 is slightly more appropriate at the moment.
Also interesting to see Xero admit that they are pulling back on their US growth ambitions. In the Investor Briefing about the North American market, they say that they are "Moderating investment consistent with slower market adoption of cloud accounting"
http://www.sharechat.co.nz/article/b...ift-to-asxhtml
Hmmm, could be a bumpy ride for the next few months.