2CC - 2 Cheap Cars Group

[lorraina]

Yes been an adventure.
Started buying at 33 cents,.Went nuts when they hit 23 and 24 cents.My average cost is under 35 cents.
Wife's average was 45 cents,but most probably up a bit now.
My thinking was an opportunity like this is what we wait for,so best to go for it when you see it.
I certainly went for it...Model portfolio allocation went right out the door.lol.
Yes thanks Shining Star... "well positioned"..

[Left Field]

After the recent disclosure of CFO buying shares, Stiassny buying up...

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/2CC/422059/407706.pdf

Naaaaiice

[lorraina]

Some best performing shares
NZX data shows the 2 Cheap Cars share price lifted by almost 180%, from $0.315 to $0.88.

Gentrack was a strong performer, up 154.14% from $2.25 a share to $4.20.

MHM Automation lifted 70% from $0.96 to $1.673.


I thought we were "well positioned" with 2CC....lol.

[Left Field]

And lest we forget..... SKO closed on Friday at $4.30, up 115% from its lows of $2.00 earlier this year.

[Left Field]

Crikey......Perhaps Percy/lorraina is selling.......1 mill shares available at 81c!! lol.

[lorraina]

No not me or the wife.
We bought to hold.
Be interesting to sell how long it takes the seller to sell.
It took us a good 9 or 10 months to build our holdings

[Basil]

New energy vehicles will lose their comparative advantage with road user charges applied from 1 April 2024.  That's the first step to RUC being applied to all vehicles so even hybrids will in due course pay their full fair share of road charges losing some of their comparative operating economies.
These sorts of vehicles have been ~ 50% of 2CC business model in 2023 and the previously available incentives on newly registered low carbon emitting imported vehicles will have provided a huge tailwind to date.   I am sure they will adapt their business model accordingly over time but nevertheless it will be interesting to see how they trade going forward without the strong tailwind from incentives they have enjoyed to date.  I would think if one was going to buy a used hybrid / PHEV or EV one would have done so in the previous quarter so there could be quite a vacuum of demand for a while.

[Dolcile]

Million dollar seller gone...

[Cookie]

It will be interesting how they allocate capital going forward. Expect continuation of no debts and positive cash flow.


If they weren't looking to expand. Imagine them using the funds to buyback shares, the increase in roe would be awesome. Unfortunately the thin volume wouldn't support. I don't think there are any rules against it.

[Left Field]

Slight downgrade for those interested....

https://www.nzx.com/announcements/427160

[lorraina]

Profit downgrade because of currency.
New projections.
$6.3 mil npat =eps of 13.82 cents giving a PE of 5.93 at a share price of 82 cents.
$6.5 mil npat= eps of 14.26 cents giving a PE of 5.75 at a share price of 82 cents.

"All businesses that buy inventory offshore are affected by exchange rate variations even when hedging is in place. Overall, the Company is in great shape and remains on course for a record-breaking result.

"A decision regarding dividends will be made by the board when full year results are approved. Provided the market remains stable, the strong performance to date indicates that a dividend at the highest end of the policy range is likely,"

[lorraina]

https://www.nzx.com/announcements/429880
Paul Millward has achieved incredible results in just 18 months.
Sorry to see him leave,however we should see some exciting times ahead with David Sena taking over as CEO.
Owner operator certainly will have the owner's eye.

[Left Field]

https://www.nzx.com/announcements/429880
Paul Millward has achieved incredible results in just 18 months.
Sorry to see him leave,however we should see some exciting times ahead with David Sena taking over as CEO.
Owner operator certainly will have the owner's eye.

I'm not so sure this move is good for 2CC holders...... time will tell.

[lorraina]

An exciting promotion from 2CC.

🚗🔥Win a Car in May!!🔥🚗



Buy your dream car this May'24 and go into the draw and you could be getting your car purchase for FREE*!! 🤯🚙💨 Whether you're looking for a sleek sedan, a spacious SUV, or a zippy hatchback, we've got you covered.



Sale details:

· Every completed purchase in May goes into a lucky draw



· Promo valid from 1st May'24 to 31st May'24.

[Buzz]

Any idea who might put through an on-market buy (or sell) for 287,436 + 2,564 (both exactly at 3:33:16pm)? That's a $226,200 buy/sell right there. Average daily volume is about ~20k.