WAM loads up on Cettire, likening the ‘noise’ to Afterpay

Source: afr.com afr.com

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“When the [Financial Review] article came out, we knew the stock was going to fall a lot … so we took the liberty to buy more stock, and we’ve been buying more stock every day since.” Indeed, the fund manager said it remained “very confident” about Cettire, particularly given its largest US-listed competitor, FarFetch, was on the brink of bankruptcy in December before it was rescued by South Korean e-commerce giant Coupang. That made Cettire’s first-half results even more impressive, Mr Oberg added, given FarFetch was heavily discounting products towards the end of last year to stay alive. “Cettire could...