Also surfstitch was an issue because they tried to grow rapidly by aquiring 5 companies within span of 2 years. That costed them 120million. Those acquisitions didnt actually give them much revenue/net profit back.
"Between December 2014 and December 2015, SurfStitch outlaid more than $120 million in cash and shares on five acquisitions, including $24 million for Surf Hardware International, $21 million for Stab, an online surf content platform, and $15 million for Garage Entertainment, which made action-sports films and videos." https://www.afr. com /companies/retail/ surfstitch-group-in-administration-20170824-gy357b
Also surfstitch was an issue because they tried to grow rapidly...
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Last
$1.24 |
Change
-0.020(1.59%) |
Mkt cap ! $472.7M | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.30 | $1.23 | $4.044M | 3.227M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7121 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 24680 | 3 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| CTT (ASX) Chart |