Originally Posted by
Baa_Baa
That's a good summation imo, even new sales yards have to unload the old cars traded-in that are no good to the new car sales yard or out of spec for their used cars 'holdings' profile, and Turners or the wreckers are the go to option for those new car sales yards -- they have to have a dumping ground or their new car sales deal (or late model used car) won't fly.
I've had a few vehicles over the years that I've driven into the ground or are terminally broken, and all of them were eagerly traded by the car yard because they flicked them over to Turners yard or auction who paid me an exit price. Some were really ****ed up, still the minimum trade offered was $3k, one was a absolute basket case, still got $10k for it. So Turners have a business model for near-to or end of life vehicles, one might assume it works for Turners otherwise they wouldn't take all those crappers
Interesting to flick through the Turners website and see some of the crap they do end up with, especially repo's and insurance claims. Makes one wonder what they do with that stuff if they can't sell it? Maybe they don't own them and are only selling on behalf? Maybe they clip the ticket on dumping the no sells into the metals merchants, the crushers.
percy will know, he knows everything about Turners and it's good to have his balancing insights when otherwise the crowd is and has been for ages baying for blood on TRA. I don't care much for his investment ideals and tolerance for capital losses, but it's good imho to have such a deep insight into the company and have a rational answer for almost everything negative said about the company. Food for thought, appreciated here, if not elsewhere.
Not far now until the 50MA resistance test at $2.33, if that is breached you'd have to think the low is in and then we might see some SP follow through action to the upside. Then again, that SP is resistance and could be a turning point reverting to (staying in) the down trend. TRA's SP definitely has taken a beating, not sure if it's warranted, but I don't argue with sentiment.