The market maybe slowing a little. But by no means is this 2017-18. Auction volumes remain strong. If this is the reason why the stock is selling off, I think holders are jumping at shadows. https://sqmresearch.com.au/auction_results.php
And scale? Those who don't think there is scale should read the presentation. More and more agents have signed up. That's how you get scale.
The rent roll is very important. I'm not sure why they cannot put that on the balance sheet? Maybe something to do with the WA deal? But quite clearly the rent role does have value out there.
And now you have a group MD onboard with a strong track record. The same guy who turned around MEA. The stock is dirt cheap. Perhaps the debt is still weighing on investor minds as well?
MEA is at market cap of $99m with rev of $59.4m for the 1st half. AU1 is at market cap of $18m with rev of $35.6m for the fist half.
FFS, a market cap of just $18m! That's the equivalent of just one eastern suburbs luxury home!
AU1 Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
