Hemnet Note
We might have a contender for the title of 'Most Aggressive Price Taker in Public Markets'
Hemnet (held) reported Q4 interim financial results last Wednesday. While the valuation of the company’s stock has been optically rich for pretty much its entire life as a public company, Hemnet was able to post numbers well above investor’s expectations (evidenced so far by a near 20% rally in the stock). This was largely on the back of growth in Annual Revenue Per Listing (ARPL). While I thought ‘Special Price Increases’ was an especially Orwellian way to refer to ruthless price gouging, I think Hemnet’s reference to ‘Value Added Services’ (VAS) might take the cake.
Financial Highlights:
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