Transaction Capital CEO comments on share price disaster – and R51 million share sale

Daily Investor said:
Transaction Capital CEO comments on share price disaster – and R51 million share sale

Transaction Capital CEO David Hurwitz shares his views on the tremendous share price decline this week and his decision to sell R51 million of his shares in December.
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The Transaction Capital purchase of We Buy Cars makes absolutely no sense to me.
The company buys vehicles that seasoned professionals in the industry won't buy at the prices that WeBuyCars pay.
Has Transaction Capital ever done a valuation of the stock that they hold?
They will get the surprise of their lives when they realise the true value of the scrap that they've bought. The business model is a house of cards.
 
fro155111 said:
The Transaction Capital purchase of We Buy Cars makes absolutely no sense to me.
The company vehicles that seasoned professionals in the industry won't buy at the prices that WeBuyCars pay.
Has Transaction Capital ever done a valuation of the stock that they hold?
They will get the surprise of their lives when they realise the scrap that they've bought. The business model is a house of cards.
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Is it WeBuyCars that is the problem or SATaxi? I understand that this current collapse in share price is more related to the trading update about SATaxi than WeBuyCars.
 
I'm in the industry and the price these clowns pay make absolutely no sense.
Waiting for the share price to drop even more when the cards tumble down
 
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I smell a rat....... I was about to purchase a vehicle from WBC till I realize there was a huge fault with car. Salespeople never disclosed this, and were not willing to fix problem - you buy Voetstoots - as is!!!!! Will never consider doing business with them again!
 
Manopstraat said:
I smell a rat....... I was about to purchase a vehicle from WBC till I realize there was a huge fault with car. Salespeople never disclosed this, and were not willing to fix problem - you buy Voetstoots - as is!!!!! Will never consider doing business with them again!
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Their business model unfortunately.
Whereas I can sell my lemon to you directly, they just insert themselves as middleman and sell it on to you at an inflated cost.
Great (to an extent) for the seller, great for WBC, but bad luck for the buyer.
In their defence they do offer a Dekra report on most of their vehicles.
 
Fuzzbox said:
I'm in the industry and the price these clowns pay make absolutely no sense.
Waiting for the share price to drop even more when the cards tumble down
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Well the dealership take you for a fool offering way under market and then slap their markup in your face once it goes on the floor, so WBC found a niche cutting down the margin on both ends, giving better value to the buyer and seller with the intention to maximize profit through higher turnover.
 
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