Transaction Capital: Reaching the end of a rocky road
Taxi tribulations created a huge pothole but WeBuyCars boosted its profit with finance and insurance sales
24 November 2022 - 08:00
In October 2021, when Transaction Capital was trading at about R42 per share, our price target was R48. That was reached by January 2022, and it would have been a good time to take profit because the share ran out of puff this year.
It’s difficult to put Transaction Capital in a particular box. If you’re tempted to compare the share’s performance to the FINI 15, its 13% slump in the year to date looks poor, since the index is up nearly 6.7%. Focus on WeBuyCars and it looks even worse, since sector peers Motus and Combined Motor Holdings are up 9% and 12.5% respectively...
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