Macquaries Child - Part II

I haven’t come across another thread on HC that has anywhere near the concentration of moronic posts as this thread - then again- it is NXL.

Serious question from a holder (not a big exposure thank god) of this stock.

Are NXL shares actually worth ‘anything’ ?

It seems to me the only ways you can arrive at any sort of value on this stock are as follows :

(1) NXL is capable of steadily over time building its business and repairing its reputation and becoming a profitable company

(2) NXL becomes a takeover target

(3) NXL is taken back in-house by Macquarie.

Judging by the continuing spiral to new all-time lows every week the market doesn’t appear very confident about (1) above.

As far as (2) well a takeover offer isn’t going to come while the sp is dropping every second day and might not come until the stock is virtually worthless (say an offer at $0.40 when the stock is trading at $0.25)

.....and as far as (3) well MQG have no history of being anything but a ruthless and borderline immoral money making machine.

There’s also a question mark over Nuix’s IP - some say it’s worth squillions....some say it’s nothing special - hard to know how much share price value is represented by that.

Anyway, all that aside, this continues to be one of the most shameful investor swindlings the ASX has seen in the last 20 years. I mean floating the company without resolving the Eddie Sheehy share options for a start .....then the slippery and greedy Doyle brothers and Tony Castagna .....what a cast ! ......and a whole raft of other stuff that just isn’t worth raking over again. Hopefully the class action lawyers are packaging it all up into the grubby and disgraceful and damning package that it is.

Pumped and primed with ritzy marketing and inflated forecasts and released to the market.

And who was front and centre and extracted hundreds of $millions from the whole sorry episode?

Macquarie Bank.

I still maintain they owe it to the investment community to step in and address this monumental failure with some kind of offer to the investors that were misled and badly burnt....even if the motivation is purely to bury the class action and spare themselves the embarrassment of all the dirty laundry being aired again.

The prospect of a successful class action is debatable of course. However it must be gathering at least a little momentum and sign ups every day as the share price continues to tank - below $1 looks entirely probable now.

PS and I don’t get the least bit excited about these occasional 5% spikes such as the one last week - it soon gives it back - this just isn’t a serious stock right now - it’s just a plaything for the day traders.