Zip is no more than a glorified bank with a very low quality customer base.
The highly profitable WBC trades on a price to sales of 4 and Zip are lightyears away from profit and require significant further funds to run the business meaning further dilution.
As the price declines they are forced to raise more money at $3 $2 and $ 1 so the market is pricing in a far greater number of shares in issue.
Given Zip track record of printing shares like confetti.
In two years of they survive they could have a billion shares in issue and at a stock price of $1 they are still trading on a market cap of $4 billion and 6 times sales.
Why should they justify that if they continue to rack up losses.
Daily Price Movement / General Discussion, page-38032
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Last
$1.44 |
Change
0.000(0.00%) |
Mkt cap ! $1.613B | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.44 | $1.39 | $7.847M | 5.526M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 37170 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.44 | 50298 | 21 |
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| Last trade - 13.22pm 19/06/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |