No one wants them to spend their pile of cash buying up crappy retail travel shops. The simplest valuation that was driving momentum was "lots of cash on the balance sheet, buybacks and special divvies." No one was really interested in management spending it buying outer suburban travel agencies in Adelaide. That's always the problem with an EV valuation driven so much by surplus cash. It's hard to get it into shareholders pockets. There's always the temptation to embark on empire building.
Retail shopfront travel agencies are sh!tty business generally. Can't beat an ASX small cap with a bag full of money to sell your business to. Phil Hoffmann knows it.
News: HLO Helloworld Travel To Acquire A 40% Stake In Phil Hoffmann Travel, page-4
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$2.42 |
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Mkt cap ! $389.5M | |||
| Open | High | Low | Value | Volume |
| $2.39 | $2.45 | $2.37 | $883.2K | 364.5K |
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| 1 | 2500 | $2.41 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.43 | 10000 | 2 |
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