This company is not close to being below liquidation value yet.
Net tangible assets is not the liquidation value of a company. When I did my calc for liquidation value, it came to 11 cents per share. I was not conservative with that calculation either, the number could be a cent or two lower.
I suspect no institutional investor is touching this for the following reasons:
- Outstanding class action in QLD and possibility of further actions.
- Legislative changes to SACC laws. I won't go into song and verse about how significant this is, but it will substantially impact their future profitability. Small amount credit contracts make up the lions share of Cash Converters EBITDA.
There is a price that this becomes an attractive risk to take but we are not there yet.
Oversold?, page-25
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Last
23.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $138.0M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 23.5¢ | 23.5¢ | $3.136K | 13.34K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 55402 | 23.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 50865 | 1 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| CCV (ASX) Chart |
