“This is a white hot space,” said Charles Frischer, a Seattle-based private investor who emerged with a 5.4 per cent stake in the last mile logistics provider on Tuesday.“ The product is really terrific and its a low cost product,” he told the Sydney Morning Herald and The Age.
Getswift shares rose above 40c for the first time since January having hit a low of 15c this year. Mr Frischer said he became aware of Getswift after talking to another US investor, Cleveland Ohio-based Clutterbuck Capital Management which emerged with a 7.5 per cent stake in July. Mr Frischer said he is particularly pleased with the recent contract announcements around the world including with Yum brands like Pizza Hut, and more recently with Heinekin. “It’s nothing now, but it could be a big deal in the next 2 to 3 years,” he said of the Heinekin deal.
Thanks Mr Frischer!
GSW Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
