Kogan's share price has dropped 20% this week because they had a massive increase in storage costs and inventory that they thought they would sell but didn't so I think we should watch out for some good bargains in the coming weeks. Anyone spotted anything decent? Kogan has removed itself from pricehipster which makes the bargain hunting a little harder.
Because if this is a long-term trend (ie people have been burned by the post-sales support and given up) they won't even be worth 10.50 going forward.
Cheap is in the eye of the beholder. It's also what is apparently filling Kogan's warehouses right now, lol
Looks like Kogan clears their customers out (of their money) and their shareholders out. Best is to be management, paid regardless of performance.
The retail surge was only going to last as long as jobkeeper/seeker was pumping money into the economy. Hello recession 2.0.
But you do make a good point OP. Not that i want to really support Kogan in any way.
Totally.
Also the housing market is draining people's money. Even the bank of mum and dad is getting cleared out
The retail market was stuffed before COVID19, JobKeeper/Seeker gave it a boost and government tried to shake the property money tree and that is going to come to a grinding halt.
Don't expect property prices to go down. Everyone will just be HODL.
Haha, yeah saw that article.
Bleeding their parents dry on overpriced properties.
Bleeding their parents dry on overpriced properties.
Guilt tripping. Then they are going to blame them for a small inheritance because the old people didn't by Dogecoin.
I swear their coffee machine is the same as the kmart ones?
Which means they likely have the same supplier
Which means they likely have the same supplier
In China. Or probably the same importer here in Australia.
They've always got some sort of 'sale' going. Probably just capitalising on this news.
they had a massive increase in storage costs and inventory that they thought they would sell but didn't
And they are all attributed to the Remington hair cutter.
All retail is 'down' surprise surprise the binge buying of the last 12 months can't be kept up.
Who would have thought people would run out of money at some point from crazy buying.
Damn. I remember reading about Kogan TV's on the Whirlpool forums. People complaining about not being able to see the TV's before buying them. Now, they are on the ASX.
Interesting they currently have a warehouse clearance sale "upto" 80% off.
Share price down to $9 now. https://www.smh.com.au/business/companies/kogan-slices-profi…
"Kogan expects many of its issues will be resolved in the coming months as it progressively sells off its excess stock."
They ditched participation in pricehipster so we really can't know when the prices are hitting historical lows on their website.
Why not buy the share itself? Some estimate they are worth $17-$19. Bought mine end of last week at10.50.