I am flat out against an increase in placement capacity. They have more than enough in the bank to get them to cashflow positive. This is a commodisation play. This list of things they have burned cash on is longer than the list of things they have made money on.
ETF, hong kong, rebrand, three tries at the mobile app - all burned more cash than they would ever make.
The US trading feature is the only thing I can think of that they have done that would have resulted in a net gain.
I am a supporter of this business, I think it will grow and become profitable, but only once they realise that cost control is one of the most important features in a commoditisation based business model.
Add to My Watchlist
What is My Watchlist?