🚂 All aboard! I hope you’re all saving an extra $1200 per day, because that’s how much Sydney house prices have risen daily over the last 3 months.
On the ASX today, tech stocks had a stand-out performance ending the day 2.6% in the green with Afterpay a big-cap winner, gaining 3.1%.
In today’s edition:
💡 The Rundown
🔮 Web stock analysis
🍳 Flash in the Pan: short-lived ASX companies part 1
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Markets
A standard day for stocks on social media again saw fan favourites, Brainchip (ASX: BRN) and Zip Co (ASX: Z1P) take out the most mentioned.
The Rundown
💡
Traders rejoice: Robinhood has completed it’s IPO on the NASDAQ this week, raising close to $2 billion and becoming the 7th biggest U.S. IPO this year
Lost confidence: Uber stock fell this week as Softbank dumped 45 million shares, equating to a third of their stake in the company
Sad day for Aus crypto: Australian cryptocurrency influencer, Alex Saunders, has been accused of not yet being able to repay significant sums of money in digital currencies
Change of operations: Struggling software business, Transendence Technologies (ASX:TTL), has entered an agreement to recapitalise as a gold company
Sick of HotCopper? Entrepreneur Kurt Lingohr has released details about his new project which aims to become an alternative to asx forum site, HotCopper
Boost for SMBs: Homebase, a platform which assists small to medium enterprises manage their workforces has raised $71m in funding.
Stephen Curry who? A robot built by Toyota has stunned the world, but hitting a half court shot with ease
Web Stock Analysis
🔮
A beautiful Thursday takeaway: Reddit’s recap of what happened on the ASX today
Catching the Knife: A breakdown of network biz, Service Stream (ASX: SSM)
How to analyse a company in the small-cap space: The Strawman community discusses
Still think Tesla is overvalued? David Quan provides insight into it’s valuation against Ford, GM, Volkswagen & Toyota
🍳 Flash in the Pan
While IPOs and new listings are always exciting, you hardly ever spare a thought to the possibility that in just a few years the company might not even be traded anymore. For some speculative investors however, this is probably more common than you might think.
How bad could an initial floating be?
Today we will be starting a new mini-series about companies that were only on the market for a very short period of time, and what happened to them.
To start out, we’re going to talk about not just one company, but a whole bunch of similar delistings: the Chinese company cullings of 2018.
Ding Sheng Xin Finance (ASX:DXF) listed in 2016, but by 2018 the company had already been dropped from the ASX after a history of alleged broken promises around dividend payments that never arrived. However, DXF were just one of many Chinese companies with an extremely short shelf life that were booted from the ASX after essentially lying about what they do. You can read more about these here.
These stocks were so bad that the ASX tightened their rules and effectively stopped listing Chinese companies altogether with just 20 remaining as of April this year. We imagine there were a lot of bag-holders that got burnt by these after expecting lucrative exposure to the rapidly growing Chinese market.
Next week we will take a look at more companies that actually tried to make things happen but couldn't quite get there, and were gone just like a flash in the pan.
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