Hi to all,
Firstly let me me say that I first bought into the GSW story back in Oct. 2017 when the share price was early $2.
I am still a holder after the past months, but had sold upon the Amazon announcement only to buy back in as SP approached the low $3 just before the $4 Fidelity placement.
Can I just say, in this time, that I have seen the biggest change to regular posters that I've ever experienced on any HC forum.
I've seen blatant rampers, to blatant short rampers, to basically scum of the earth posters with no fiscal contribution enjoying the misery of others. I must admit, I had, and have, gone quiet and am a bit un-sure as to what will un-fold. I believe that there are still many holders reading every day without posting, "licking their wounds" so to speak without commenting.
The dark cloud over Getswift for me hangs large, due to the perception that their announcements regarding agreements from CBA, N. A. Williams and Amazon and the revenue the market HAD factored in, has evaporated to a large extent into over hyped B.S. and minimal revenue, if at all. The AFR article had cast doubt over their continued announcements, especially since Fantastic Furniture and Fruitbox had stated they would dis-continue their use of the app.
The continued silence from GSW has also made many holders see a non up-date or non-announcement as a negative.
I, for one as a holder, have been grief sticken over the past month or so.
But my honest to god thought process would be, if GSW did announce anything at all, no-one would believe it anyway.
At present, they are damned if they do, damned if they don't. Even PWC auditing gave no comfort.
I've also read in the past few days that some posters have actually tried the app. and weren't happy with it.
Well Red Rooster seems to be, and are showing some bottom line benefits from the delivery times they have been saving.
Also today, I've read articles posted on Amazon in Australia and is this our GSW software app. or is it Amazon that have found a different direction?
And I've read and felt the seething opinion from people in regards to Joel and Bane and the rest of the company.
The common feeling of "heads must roll" has been heavy in holders emotions.
I have no doubt that this is not going to be a popular thought on this thread, but I'm sorry, I just can't believe that a CBA, or a N.A Williams or an Amazon actually signed agreement paperwork without them being pretty darn sure that this was a bloody good product. All of these aforementioned company's would, imo, benefit greatly from GSW's software due to them all having some kind of delivery or logistical problems. Fruitbox and Fantastic Furniture, small local company's and maybe not so much.
And I for one believe, even though Joel has been the butt of many AFL jokes, that what it takes to make it not only to the top tier of team work and athleticism in team sport, but also strive through adversity and study to launch a great business must make this guy be able to take "knocks", get up again and contest again. Bane has had so many detractors, but does anyone truly believe that any of these agreements would have got over the line without Bane?
I feel truly sorry that shareholders have lost large amounts along the way. They must feel cheated on what they thought would happen and have every right to try for a class action. As so many have stated, and also imho, the only winners out of this will be the legal people and not the previous holders. Due to insurance, it may also not make much of a dint on GSW if Fidelity and other large holders stay the course and hold.
For what it's worth, I've probably invested more than I am comfortable to lose with GSW, (actually, is any amount "comfortable to lose"??).
But I can't get rid of the thought process that there is a lot more to go to the GSW story than what has played out so far.
It's the bottom drawer for me until I see some further information in the weeks and months ahead.
Any, and I mean any, large spike in transaction numbers and revenue in future months will make this SP fly once more, just with a slightly more subdued class of share-holders.
If there is to be no spike in either in the next 12-18 months, well then the nay-sayers will be correct.
All the very best to all holders and may GSW turn out to be a company that grew too fast, learn't lessons and then moved on to be a truly remarkable Australian business success story!!
