Kogan business model

Never held KgN sideline watched its story up to $29 back down to $4 and perplexed as to why investors want to burn their cash on this stock.
Scratch the surface and it’s not hard to see why it’s SP is in free fall.
*I thought Kogan did good quality own branded TVs and electronics.
jump onto the website- let’s get buy some nappies with the TV and whilst I’m at it take out some life insurance? WTFF Talk about identity crisis.
it’s not hard to see why Kogan has excess inventory issues-what are they smoking ?
*Online only retailer operating on 25% margins ? Wtf bricks and mortar traditionally run at 40% plus,Home branded stock 60% plus.
no wonder top line sales of nearly 1bill yet it can’t turn a profit ?
*operating costs far to high for a online retailer
*dedicated online retailer with a clumsy website- anyone tried to shop on Kogan ? Ain’t exactly user friendly
I see absolutely no way any consumer would shop on the Kogan platform where a competitor can’t do anything better.
Time for KGN to go back to the drawing board- go back to how they started and invest in the Kogan brand and expand this range- Kogan branding is known and established already, they could do Kogan toasters, fridges, microwaves etc and cull all 3rd party inventory low GP items.
last thing I would love to see why not bricks and mortar Kogan superstore??
Kogan needs to change innovate and adapt because atm they are monkies who can’t swim treading water in a shark infested pool, eat before you get eaten.