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  • 3 weeks later...

Maybe this is why directors felt the need to sell when they did - Kogan.com quiet on potential 'material' hit from GST

Online retail Kogan.com has gone quiet on how being forced to add GST to some of its cut-price imports will affect business, despite warning investors ahead of its IPO that the change could cause a "material" dent to earnings.




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On the 5 June 2018 KGN advised they did not received a bid which was acceptable - at the time the SP was $9.80 - they also advised the directors are not in discussions to sell any shares A week later they sell @ $7.00


Today the SP closed @$6.62 :blink:


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A couple of fundies - Tony Waters from QVG Capital and Andrew Mitchell - discussing KGN - not that fundies (brokers or shorters) always get it right, just posting as a matter of interest - DYOR



Andrew Mitchell: A sell from us. Ruslan and David, they're smarter than all of us combined, and they're selling. I'm going to follow their money. I will say though, that the NBN does provide a great opportunity for them, but I'm following their money, and I'm selling.


Tony Waters: High conviction sell from us. Look, this is ridiculously priced, $600+ million valuation, for effectively an NBN mobile reseller. You know, we don't think it's a high quality business as some would suggest. I think Ruslan Kogan would agree with us given that he's selling (the) stock. Well overpriced in our view.


SP currently $6.59. Surprised short positions have actually come down - on 8/6/2018 = 3.76%, as at 3/7/2018 = 1.75%


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  • 2 weeks later...

Nice catch....


I'm always whinging how hard it is in small business to make any meaningful profit. Most people assume you lie. A mate of mine has just become manager of one of my main suppliers...... Turns out I'm one of his only customers with an upto date, paid up account. Most of my competitors are months behind... Yet they drive the fancy cars, fancy shop fronts etc.....


Not paying your suppliers makes your cash flow look great. Right?

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Yes - the ones who flaunt their wealth and "toys" - flash cars, flash houses, flash women - are usually the ones who warrant further investigation


How lucky were the directors to sell - I mean "reluctantly accept a bid" - @ $7.00 - of course they wouldn't have been aware of these figures at the time, lol :lol:


Had to laugh - appears Canaccord Genuity has lowered their price target from $10.70 to $8.60 after the Quarterly update - shows how useless these targets are. Canaccord, along with Macquarie and UBS, were the ones testing the waters for the director stake sale back in June when the SP was $9.80.


These boys have lost the market trust well and truly - SP currently $5.32, down another 9%.


Notable short alert reported yesterday


Tue 24th Jul, 2018 1,079,759 93,708,139 1.15% 3,538,085 30.52%






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30 July 2018

Voluntary Escrow Shares to be released

Pursuant to ASX Listing Rule 3.10A Kogan.com Limited (the Company) advises that

32,448,956 fully paid ordinary shares (Shares) voluntarily escrowed from 7 July 2016 by

entities associated with Ruslan Kogan and David Shafer will be released from escrow on 20

August 2018 being the first trading day after the announcement of the audited financial

results for financial year ending 30 June 2018. This being the date when the restriction period

applicable to these Shares expires.


These Shares are already quoted on the ASX.


Just in time for another director sell down?


From their previous sell down ann

Other than the trade outlined above, Mr Kogan and Mr Shafer will not be dealing in securities prior to September 2018.


SP down another 6.47% currently - @ $4.77



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