IN THIS DISCOUNT BIN - buying customers

I notice that Amaysim and their cheap brand VAYA are on the cash rewards website and on groupon.

This is nothing more than a customer number grab - customers who join via groupon or cash rewards never stick around - they churn straight away.

This is a big warning sign for me. Business must be very tough.

The business has been trying to buy growth. Amaysim growth stalled so they bought Vaya. That was a shocking buy - way too expensive at over $500 per customer. And then they went and bought an electricity retailer on the basis they can cross sell. Well anyone can cross sell on a customer database - you need to be more strategic than that.

Its looking cheap at the moment but thats for good reason - because this is a dog of a stock.