My money is on Xero, and Rod Drury being knighted.
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
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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.
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.
So who's going to buy all these millions of shares supposedly about to be sold, answer only those that believe that Xro will ultimately be a success so for every negative there is a positive.
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.
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