Their is a chance they probably are slowing selling (although yes, there is no denying they have made a huge amount of money...)
On a separate note, seeing we have been talking about acquisitions, lets look at how a previous acquisition of Z1P's is going...Pocketbook.
They paid $7.5m in late 2016 for a company started barely 4 years earlier... https://www.*.com.au/zipmoney-has-grabbed-fintech-pocketbook-in-a-7-5-million-deal-2016-9
FY17 presentation:
- 370k users (and a whole lot of other vague things)
FY18 presentation:
- 540k users, 30 institutions
- 500m+ transactions, totaling ~$200b
- Australian first open banking integration (Macquarie Bank)
- 3m+ bill notifications, users saved $30m+
FY19 presentation:
- 700,000k, 30 institutions
- 510m transactions (no mention of value)
- Australian first open banking integration (Macquarie Bank) (literally the same thing was mentioned in FY18)
(no mention of bill notifications or user savings... and hidden away in FY20 outlook statement: Revamp Pocketbook... revamp generally means need to spend more expenditure to try make it work somehow)
Not once has Z1P mention revenues or profitability or any other metrics of a $7.5m acquisition for 3 financial years and in fact mentioned less information in the most recent FY... and it seems that although there was user growth (ie people have downloaded an app and created an account), not only has user growth dramatically slowed in the recent FY, but there has been virtually no change in transactions (ie people actually doing stuff on the app) in the past year... they even re-mentioned something that happen in FY18 in FY19 (must be desperate to fill the slide with something?)... and on a different slide (in much smaller font) it is mentioned Pocketbook will be revamped in FY20... looks like they paid $7.5m for a bit of a dud which less than 3 years after acquisition, is having to be re-done.
Hopefully the latest acquisitions perform better than Pocketbook - a now 0 growth acquisition that requires more development.
(and before I get ripped into, please note I'm just point out the facts here and trying to have a constructive conversation)
Their is a chance they probably are slowing selling (although...
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Last
$1.85 |
Change
0.070(3.94%) |
Mkt cap ! $2.335B | |||
| Open | High | Low | Value | Volume |
| $1.81 | $1.91 | $1.80 | $45.22M | 24.24M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7500 | $1.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.85 | 211147 | 7 |
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| ZIP (ASX) Chart |