Hub24's shareprice went up 8% today while the rest of the market tanked by around 1.5% on news they were acquiring Xplore Wealth (amongst one or two other littler things). Xplore has had some serious issues over the years and a not a high quality company in my opinion but what a bump for Hub24. Ought Netwealth make an early move and take over the last meaningful platform - Praemium? It's quite a good company and reasonably sized at 335m marketcap.
I am a shareholder in both as I like the sector. I'd be quite content receiving an element of netwealth shares as consideration. Someone will ineivitably have a crack at PPS so may as well be netwealth. Have backed my horse and would be gutted if Hub24 took it or an offshore player.
NWL Price at posting:
$17.92 Sentiment: Buy Disclosure: Held
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