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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Musicmagpie Plc | MMAG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.25 | 4.00% | 6.50 | 11:56:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.25 | 6.25 | 6.50 | 6.50 | 6.25 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
|---|
Posted at 18/12/2023 13:46 by darrin1471 It was fraud.You can buy franked stamps for "collectors" on eBay. Often collected by charities. Fraudsters found ways to remove the ink and glue from the stamps. They then resold them on eBay as unfranked. Selling the unfranked stamps and using them is illegal but authorities probably targeted the sellers. Royal Mail stamps now have barcodes which prevent them being reused. Illegal unfranked stamps just undercut other legitimate businesses that kept by the rules. MMAG get significant postal discounts from Royal Mail by volume and by pre sorting the parcels into regional postcodes. Royal Mail have significantly increased the price of large letters to the point that you can now get deals direct with the couriers at similar rates |
Posted at 06/12/2023 20:53 by darrin1471 Anybody owning MMAG on the basis of MMAG growing a rented phone business should take a couple of hours to listen to the investor relations videos. MMAG do not intend growing the rental mobile phone business.I hold no position long or short in MMAG |
Posted at 06/12/2023 13:11 by flc Agree Weaver...we do some work with MMAG and whenever I mention their name it's surprising how many people respond with...aren't they the guys who buy and sell old CDs? To be fair I do buy kit from them myself and have always found the quality and service to be excellent. |
Posted at 06/12/2023 12:31 by dr biotech I was with some friends a few weeks ago and we were talking about getting new mobiles for the kids - first site they went to was MMAG so based on my research of two people, they are well known :-)You can get a better feel of how things are going by looking at some proper stats ie web visits hxxps://www.semrush. They have done OK - except if you click on the alternatives such as backmarket, which seem to be doing better. Prices seem similar across the sites. FWIW I eventually got an iphone from a trusted Ebay seller I don't really understand how the renting business model will work - tbh I think it won't. I'm all in favour of buying 2nd hand, but dont think its a great business |
Posted at 20/11/2023 10:09 by blackhorse23 BT will not enter 2nd hand phone shops to downgrade its business model. If BT wants to buy CURY yes possibility but not MMAG . Not a chance lol MMAG is creating rumours & it's classified as zombie company in LSE board lol |
Posted at 31/7/2023 16:46 by darrin1471 simmsc, you are buying into a shrinking business who are trying to change into a new business.H1 23 revenue £61.9m H1 23 rental revenue £4m. "Entered H2 2023 with c£4.0m contractually committed forward revenue" before growth. Books and media revenue was -£4.4m. Gross profit - £1.885m Consumer technology sales were -£6.6m I think the rental business is a good idea but it is a tiny part of MMAG at the moment. The finances to grow rental are coming from borrowings rather than cashflow from the legacy businesses. CT could return to growth but it is a very competitive, low margin business with low barriers to entry. MMAG buys a used phone for £100, spends £20 on refurbishment then sells it on for £160. What price is the rental business paying for the phone? £160 and CT makes a profit of £40. £120 and CT sells the phone on at cost? At what point do books and media become unprofitable? What is the potential write off of stock, fixtures and fittings? I have no position in MMAG but keep on watching |
Posted at 30/7/2023 01:22 by simmsc The corporate focus will be good for mmag. and when the rental income starts to properly come through this will catapult higher. It's the mix change from selling to renting out which has increased capex and hurt revenue in the short term. Hold tight here. I think this will come good. |
Posted at 16/7/2023 11:02 by flc You can see why MMAG got the valuation it did at IPO. The trouble now is that too many punters are discounting it based purely on figures, classing it as a 'junk yard' stock and without fully appreciating the size of the cake.Anyone remotely interested in looking at the potential should read the following link about their US counterpart ecoATM: Cowen on Nasdaq took a significant minority stake for $200m in 2020 to help widen the kiosk footprint globally including the UK. They now have well in excess of 5,000 kiosks including sites across the Walmart network in the US. When you consider that the Asda SMARTdrop roll out now accounts for over 45% of MMAG's consumer tech sourcing it doesn't take a genius to see what's happening and taking a hike in debt to expand this area of the business is small fry compared to the bigger picture. I would have thought ecoATM will be watching MM very closely especially now that they have already taken a large slice of the UK retail network. What do they do?..partner, compete or acquire? who knows..but something is certain..MMAG's market cap currently seems ludicrously on the low side. DYOR on this but the landscape is changing and whatever anyone says about recommerce..it's only going to get bigger. |
Posted at 02/6/2023 20:41 by peteret Blackhorse when you first started to recommend harl on this board they were 17.5p now they are 13.6p despite new orders.They don't have the finances to meet these orders and are laying off staff.Stick to the harl board as you have previously told us you don't hold any mmag now.Though if I were you I'd sell harl and buy mmag with a tu in a couple of weeks the share price is bound to rise.I bought a refurbished phone and some DVDs from mmag recently and both were great and arrived speedily. |
Posted at 11/1/2023 14:12 by darrin1471 B23I have known of MMAG for a decade. Long before the IPO. They started off selling used books, CD's DVD's and games on Amazon and eBay. I think, but do not know for sure, that MMAG used to buy the CD's etc from the charity bin collections you see next to the clothes recycling bins. They did have a few shops at one stage. They then started their own website where they would offer a few pennies for used CD's DVD's books and console games. You would box them up, send them via freepost and receive a payment once they were checked. I never understood how they were able to make money with this business model, but they did and they got very big. Worldwide they have the highest number of reviews on both eBay and Amazon. They have now moved upmarket and recycle phones and electronics etc. You can sell your phone etc via the MMAG website and post it off by freepost. ASDA kiosk's appear to just be a pc terminal that gives you a price and a place to drop them off at immediately. Asda do not have a marketplace. Walmart do. Online marketplaces are a bit of a new trend. They are normally only available to businesses to sell on. ASOS have one and B&Q launched one last year. Gear4music are opening one this year. I am not sure if G4M are using the MMAG or eBay business model. Renting used phones etc is a new string to MMAG's bow. Very small part of their business and like the ASDA kiosks, untested over the 3 year life of a rented product. MMAG is an interesting one to watch. I have watched it go down from 200p to 6p and now back up to 34p. It is a difficult one to value as they are doing a lot of new things at the same time. |
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