very little short positions in this stock indicating holders are selling. There will be a bounce at some stage I suppose but not many shorts in there for a compnay with 134Million shares now on issue.
Insane amount of goodwill booked in the IPO for a business with contracted workforce and 12 month property management agreements which seem to be valued as if they are long term annuities.
Current Asset value per share is only 12 cents/ share ! and EPS per share on last report was .6cents. No doubt they will pay a dividend from the cash raised from the IPO.
I wonder if Hookers are going to have a crack at floating and how they will try to differentiate themselves if they do.
Wouldn't touch it personally from the long side, don't think it has anything to do with property market, its merely a sales business operating in a very competitive market with little to no barriers to entry which was valued at some insane (imo) hypothetical metric..............which merely paid off the owners debts, gave hime cash and bought him a business, great for him and the 10M advisors all paid from punters, not good for punters............
