Here's my 2020 yearly review of KGN.
After opening the year at 7.70, Kogan.com ended the year at 19.00. The yearly (intraday) low was all the way down at 3.45 on March 13, while the yearly (intraday and all-time) high of 25.57 was reached on October 13. Yesterday's close of 19.32 was also a 30-day high, and while it dipped slightly today, it obviously remains in an uptrend that began in late November:
Looking at the weekly chart, KGN experienced a 17-week streak of green candles. After running out of puff in July, something of a support line emerged around 16.00, which is also the support line (or zone) for the current rally:
There were many significant announcements during the year. Here are some of them plotted against the daily chart, to show what effect they had:
(1) Feb 18 - Kogan.com records highest ever half of Gross sales
(2) May 20 - Kogan.com acquires Matt Blatt
(3) Jun 11 - Kogan.com launches A$100m Placement and Share Purchase Plan
(4) Jul 8 - $20 million raised through completion of Share Purchase Plan
(5) Aug 17 - Kogan.com FY20 Results Presentation
(6) Dec 3 - Kogan.com Acquires Mighty Ape
A few times I remember KGN making a great announcement, only to see the price plunge that day. Maybe it was those who bought on rumour, and sold on news. In the end though, that counts for nothing if you're holding for the long term.
Personally, it was disappointing to see certain Directors sell their shares in past years (supposedly reluctantly, according to one article) - only to want to buy them again more recently - and higher for what they sold. In other words, sell low and buy high.
It was also disappointing to see KGN found guilty in Federal Court.
@JayWin - sorry for not replying earlier; with KGN allocating $700K (but only being fined $350K), I believe they'll have $350K left over, minus their legal fees (but I don't know much those were).
To me, KGN is almost like owning a flashy, great looking car that performs well mechanically - except that it has certain annoying features that pop up sometimes - like mouldy, smelly air conditioning. But if Directors etc have learnt from mistakes, the future looks good and the mould should be gone. Director/CEO discipline is not rocket science - or at least it shouldn't be.
But on the plus side, who am I kidding. It was great to KGN climb into the ASX200 just recently. FY20 highlights of growth i.e. 35% active customers, $46 million EBITDA, and 768m in gross sales don't happen by accident. They are the mark of a successful company, notwithstanding COVID-19 and its influence on retailing.
Even two days ago at work (with only skeleton staff in the office), I saw a Kogan parcel delivered to a coworker.
That's enough for my yearly recap, and I hope I can keep posting more charts throughout 2021. Happy new year.
(20min delay)