Snakk

[BobbyMorocco]

Up 115% on 14 cents and bidders up to 15.6 now.

WOW

Should have got in early Moosie. Not a bad wee profit to be made in just a few hours.

[BobbyMorocco]

No sellers until 35 cents. Is that right?

[CJ]

Up 115% on 14 cents and bidders up to 15.6 now.

WOW

And on turnover of over $10k so while not huge, is real money (as opposed to 100 share parcels)

[CJ]

So why are we talking up 150%?? I know that's what DB says as the "lisintg price" was 6.5c BUT the reality is for todays investors it is up 33% isnt it?

I guess it depends on what the last pre-float share sale was at.

With Revenue of only $1.2m, it sounds way over valued at $62m. A P/Rev ratio of 15-20 is normal for a high growth tech company so any over $20m would be overvalued. I guess it depends on how quickly they can ramp up that revenue.

[ari]

Never had so much fun watching the market since bonza shares like Aquarius 21 etc

[enzed staffy]

Its complete madness!

[CJ]

Yup I agreee, it seems a bit overvalued. Figures I have though are sales to March last year were $1.9m. 1.2 was sales for the 6 months to Sep 30. Those figures were a 48% gain on the previous 6 months. Therefore a rough extrapolation forward suggest revenue of about $3m to March 30 this year? Are my figures OK so far? Therefore at market cap of $60m we are looking at that P/Rev ration of 20....Maybe not that crazy after all.

I think both DIL is at a P/R of about 10 and XRO at about 30. So maybe not crazy if they can keep growing at 48% per 6 months.

[CJ]

Yes, but it's been put out there as "idiot-bait" since no one else has an ask on the board. If they have it filled then they will be rather happy chappies I think.

Idiot found!

[blobbles]

Just logged into NZX to see the company has gone up 350% in one day.

Uhhh... what?

Overvalued much?

[BobbyMorocco]

I think both DIL is at a P/R of about 10 and XRO at about 30. So maybe not crazy if they can keep growing at 48% per 6 months.

I only did a tiny bit of brief research prior to this IPO, but I remember reading that Snakk were looking for their growth to be in line with the mobile ad market which forecasters are predicting to grow by about 50% year on year over the next five years in Australia, so if they can do that and enter other markets then yeah they probably can keep growing at that rate for some time.

I never would have expected it to be that crazy out there today, if I did I would have put far more effort into my research and thought about getting in early far more seriously. I put a line through it and moved it into the wait and see what happens category at about 3am on Sunday morning, mainly because I didn't have the time to look into it properly and couldn't be arsed staying up all hours of the night any longer. A 100% profit in less than a day certainly would have made up for the loss of sleep..... Oh well.