VEHICLE FINANCE: Transaction Capital, owner of WeBuyCars, tanks on news of taxi business restructuring

📆 15/03/2023 09:49:00
📰 dailymaverick

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Transaction Capital’s share price crashed by more than 40% on Tuesday after news of an aggressive restructuring of its taxi division and questions are now being asked about Transaction Capital CEO David Hurwitz's sale of shares worth R51-million late ...

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SA Taxi, WeBuyCars owner Transaction Capital crashes 40% | BusinessShares of SA's biggest taxi financier Transaction Capital, which also owns a majority stake in vehicle trader WeBuyCars, crashed 40% on Tuesday morning, a day after it warned shareholders that it expected interim earnings to fall by more than a fifth. Any reason? Maybe this will show politicians in perpetual denial how the market responds to a failing State. JoshvanVuuren !!!!!! I am eating out of tin cans here!!!
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Taxi industry woes put a spoke in the wheel of Transaction CapitalThe group’s stock plunged 40% as it increased the bad debt provision for SA Taxi by R1.8bn
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