Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hello James and MM team, It feels like the elevator is heading for the basement on TYR and ZIP. Both of these stocks have tumbled since purchased and wondering if there is still some light at the end of the tunnel or is it time for some tax planning? Thanks and regards
Hi Rob,
It’s darkest just before the dawn however it has been dark on these two for some time! They both seem ‘cheap’ but having been caught up in the huge P/E contraction of the last 6-months its hard to have too much confidence. We need to see an improvement in bad debts at Zip (in their US facing business) and if they can do that, the sector will regain some support. We will likely hold onto this one to see if that can play out. With Tyro (TYR), competition is intensifying there with many other point of sale systems emerging that provide a real alternative to Tyro. We are likely to sell this one into a relief rally. In short, we are not sellers at current levels but obviously how you structure your tax is one for the accountants.
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