PHANTOM SHARES: The Finance Ghost — Why is Steinhoff still trading at all?

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 84%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

If you can imagine a MyCiTi bus on fire in a Cape Town protest, buying Steinhoff shares at this point is like buying a ticket to ride on that bus.

The resounding question, of course, is not why this is still a topic of conversation in 2023, but why Steinhoff is still trading at all. Because as incredible as it may seem, at a price of “just” 50c a share, you can still get your hands on some Steinies before they become well and truly worthless. Some may argue that they are already worthless, despite a tight bid-offer spread that suggests a willing group of buyers at this price.

It’s not all bad news. Another Steinhoff stepchild — Pepco — is showing how good things could have been for Steinhoff in an alternate reality. In the three months ended December , revenue for this plucky European value retailer was up 27% on a constant currency basis and 24% as reported. There’s a major effort underway to increase the store footprint, evidenced by like-for-like growth coming in at 13% versus the much higher total growth.

Other than for institutional investors who may want to walk a risky journey alongside the creditors in pursuit of whatever crumbs fall off the royal table, unlisted shares are generally a bad idea.Shame man. Telkom really is that awkward kid that no one wants to take to the school dance , the parties decided to walk away from a potential deal. No further details were given.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Wasnt steinhof 27c fairly recently? - an almost 100% rise then for those selling now, outstripping most blue chip shares' performance

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 3. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Second arrest for Cape Town luxury accommodation 'scammer' suspected of pocketing millions | BusinessAn alleged accommodation scammer has been arrested for a second time on charges of defrauding owners of luxury property along Cape Town's Atlantic Seaboard as well as unsuspecting tourists. | News24_Business _Business This time round, you can keep him. _Business Hi any student discount with this R75 per month subscription fee, information is free yet reading is expensive _Business Chop his hands off 😤
Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »