No matter which way you look at it NXL was not in a fit state for listing when it did so in late 2020.
It was rushed, it was opportunistic, it’s financials were dodgy.....and clearly there were a whole lot of shady and dodgy characters in and around it. Why isn’t Macquarie being held to account ?
My exposure is not as great as it once was but I still have enough skin in this for it to hurt.
If Macquarie had an ounce of decency they would step in .....MQG is a $140B goliath. NXL’s market cap is now a pathetic $450M. MQG could start buying into the stock and easily drive the price back up to $3 or $4.
As a PR/Goodwill gesture they could even announce a ‘takeover’ offer (ie effectively take the business back in house) at say $4 ......most investors would happily accept that.
Such moves would cost them peanuts in comparison to their market cap.
Macquarie’s Bastard Child
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Last
$3.50 |
Change
-0.010(0.28%) |
Mkt cap ! $1.132B | |||
| Open | High | Low | Value | Volume |
| $3.50 | $3.55 | $3.46 | $2.231M | 636.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6123 | $3.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.50 | 4998 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| NXL (ASX) Chart |