HMY-Harmoney

[winner (n)]

I was hoping robots will be the new dogs & do the bidding of lazy humans as they worry about global warming  credit checks & woke liberalism etc. 

Apparently dogs have been warning us humans about climate change and now they pissed off because we haven't been taking heed of them.

[Basil]

Wettest Winter I can ever recall.  Your dogs are probably just as (SAD) sick of the endless rain and high winds as this dog is.
https://mentalhealth.org.nz/conditions/condition/seasonal-affective-disorder

[winner (n)]

HMY share price back to where it was before that outstanding announcement

What's up guys - maybe it was Basil warnings about being wary about unsecured lending.

[winner (n)]

Don't know if this means much re HMY but interesting from BusinessDesk -


The number of credit accounts in arrears was up 14% in July compared to July last year but down slightly from May with vehicle arrears beginning to creep up, the latest data from credit reporting company Centrix showed.

Products like mortgages and vehicle loans – secured lending products – are usually the last credit payments people let slip, which indicates we could be starting to see signs of financial stress," said Centrix managing director Keith McLaughlin.

And


Overall, demand for new credit products was down 6% in July with mortgage applications down 29% on July last year while new mortgage lending was down 18%.

[lorraina]

Always pleasing a company going against trend.
https://www.nzx.com/announcements/396176

[Plata]

Pretty spooky how little impact the positive update had on HMY. Makes me think it would be a dooms day sp event if they released anything negative

[Hectorplains]

 At IPO, Stevens said about the dual NZX listing, "It's a big part of our heritage. Our staff are based here, and we feel that it's the right thing to do."  What's changed?

[Forrestdun]

Director buying 20,000 on market after yesterdays Q1 update.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/HMY/400837/381532.pdf

[Plata]

Not a lot but better than the previous holding of 0!

[Forrestdun]

Might need to move this topic to ASX   

[Plata]

No reprieve on the ASX, how low can this thing go! What an absolute disaster for IPO holders. Could be worth looking at if it stays this low and the full year is good.

[Shareguy]

I looked at this Plata. While Aust growth looks good, risk with unsecured loans and software big concern.

[Basil]

No reprieve on the ASX, how low can this thing go! What an absolute disaster for IPO holders. Could be worth looking at if it stays this low and the full year is good.

My "Beagles", thoughts were posted in the other forum in the first 6 pages in February 2021, (maybe have a look if you are interested), when the stock was ~ $A2.50.  I had a look at their full financials' the other day and I wouldn't touch this with a barge pole.   In my view it is highly likely they will need a major new transfusion of capital in the next two years, or they will go under.

[Plata]

My "Beagles", thoughts were posted in the other forum in the first 6 pages in February 2021, (maybe have a look if you are interested), when the stock was ~ $A2.50.  I had a look at their full financials' the other day and I wouldn't touch this with a barge pole.   In my view it is highly likely they will need a major new transfusion of capital in the next two years, or they will go under.

Their arrears rate is pretty low from memory, are you expecting they will experience some tough times soon and get wiped out or just need it to continue growing?

[Basil]

http://research.iress.com.au/IDS/old/20220831/02561283.pdf?uid=A7E6DE114F3E04474D4FA5452346F325204800003EE9937EDAE9E540093D250091850000&ppv=
Page 35 is quite interesting.  Negative eps of 20 cps.
If they keep going that way they will need a major capital raise or will go broke.

ITs clear I don't believe in the business model...I said exactly that in February 2021 when the share prcie was $A2.50  I do not believe the interest rates they charge are sufficient for unsecured lending. In a cost of living crisis / recession no matter how much you provision for bad and doubtful debts it's never enough.  I see that impairment expense took 35% of gross income.  Hmmm