WeBuyCars crashes from hero to zero

WeBuyCars crashes from hero to zero

WeBuyCars’ share price plummeted by 54.3% over the last year, which means that the company’s market cap declined by R12.9 billion.

 

[zerocool2009]

Time to buy more shares!

 

[FiestaST]

VS

 

[My_King]

VS

Enrique

 

[Goosfrabba]

VS

 

[konfab]

Proudly contributed to that share price drop.

They bought my wife's old car for R55k. I kept track of it once it listed. Slowly saw the price go from R60k to R50k to R45k. Then they had a fake auction for it which had an "offer" for it for R43k. That ended and the car was re-listed at R43k and then it was sold.

 

[Bad Ballie]

The second hand car prices were a bubble for a long time; it was doomed to pop when the Chinese started bringing in brand new cars that were in some cases cheaper than the prices being demanded for secondhand cars. Anyone who bought a secondhand car during that lead up was well aware that the second-hand asking price was usually higher than the book value of the car to start with. I have no sympathy for any company that exploited the market.