ZIP - Zip Co Limited
- Thread starter Bushman
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Frustrating one for me. I missed a tight stop limit entry on 2nd April by 1c due to a small gap and thought I'd let it go. Z1P has been on a ripper run since then.
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I also let this one go in my Speculative Stock Portfolio, not expecting this level of acceleration in share price. Really hoping they will allocate a decent number of shares for the Share Purchase Plan which I applied for. It's expected to be scaled back heavily as they are only raising $5m.
Zaxon
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85% scaleback, so we only get allocated 15%. I bought in because of the price arbitrage. Hopefully the price remains nice and high for the next few days.
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Although the new shares are not going to be listed till a later date, the actual allocated amount is going to be disclosed on the 18th (this Thursday). Will be looking forward to that announcement.
Zaxon
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Yep, as you said there is a big arbitrage to be played here. Nothing is guaranteed though, since you can't trade the new shares till the 23rd of this month. Shares can come down just as fast as they've gone up between now and then (hopefully not
).
Zaxon
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Very true. I've done the math based on today's share price.Yep, as you said there is a big arbitrage to be played here. Nothing is guaranteed though, since you can't trade the new shares till the 23rd of this month. Shares can come down just as fast as they've gone up between now and then (hopefully not
We'll see whether it's close to that or not by the 23rd.
tech/a
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From what I see this is likely to come off pretty hard sooner than later.
At best an inside day today.
At best an inside day today.
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Yeah, that's always the worry when a stock has run up that hard. I don't like chasing and buying into stocks that have shot up straight into the stratosphere due to this worry. Let's see if this is a major correction or more of a pull back for Z1P...
My favourite stocks are those that are slowly trending up over many months and years.
Zaxon
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1490 extra z1p shares just appeared in my account. Looks like my best guess calculation was spot on.Very true. I've done the math based on today's share price.
Zaxon
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If you put in the full 15k, you would have been scaled back to 1490 shares. Based on today's opening price of $2.56, that gives you a profit $1534.70.
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I got allocated only 500 shares, not the full 15% that I was hoping for. Found out why the allocation was small. Then decided whether to hold onto them or sell them at the current profit. Details in the Speculative Stock Portfolio.
Zaxon
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Well that's a shame. You had to be holding enough Z1P shares originally. Fortunately I met that criteria, but I see some people missed out. Although we all missed out really. At a maximum 15.2% scaleback, our profit was given away to the institutions before we ever had a chance.
greggles
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Z1P getting close to cracking $4. I never expected this one to go this far this fast but I suppose it's riding on Afterpay's coattails and enjoying the positive sentiment associated with the installment payment sector generally.
They just announced a partnership with Kmart yesterday and will be providing installment payment services on the Kmart website by the end of the month.
They just announced a partnership with Kmart yesterday and will be providing installment payment services on the Kmart website by the end of the month.
Zaxon
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bigdog
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This clipping is from the May 20 issue of The Herald Sun Digital Edition.
https://www.heraldsun.com.au/.
ZIP GETS SOME LATITUDE Herald Sun - Monday, 20 May 2019 - Page 25 › WHO’D have thought there was so much money to be made helping eager shoppers buy fast fashion and junk food? Just ask former Macquarie Capital banker and now Zip Co chief LARRY DIAMOND, who has seen his digital payments start-up shoot from $300 million to $1 billion in value in five months. As more companies sign on to Zip, it is believed Latitude Financial Services, headed by AHMED FAHOUR (above), has considered buying it.
ASX Announcement
21/05/2019 9:28:51 AM Zip goes next level with Kmart
https://www.heraldsun.com.au/.
ZIP GETS SOME LATITUDE Herald Sun - Monday, 20 May 2019 - Page 25 › WHO’D have thought there was so much money to be made helping eager shoppers buy fast fashion and junk food? Just ask former Macquarie Capital banker and now Zip Co chief LARRY DIAMOND, who has seen his digital payments start-up shoot from $300 million to $1 billion in value in five months. As more companies sign on to Zip, it is believed Latitude Financial Services, headed by AHMED FAHOUR (above), has considered buying it.
ASX Announcement
21/05/2019 9:28:51 AM Zip goes next level with Kmart
PZ99
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Zip Co responds to Trade Mark claims Zip Co Limited (ASX:Z1P)
(“the Company” or “Zip”) and its subsidiary Zipmoney Payments Pty Ltd have been notified that Firstmac Limited (“Firstmac”) has commenced proceedings in the Federal Court against Zip Co Limited alleging infringement of Firstmac’s “ZIP” trade mark which is registered in respect of Financial affairs (loans) (“Firstmac trade mark”).
Zip notes that Firstmac has commenced these proceedings now, when prior to this year Firstmac had not raised any issue in connection with Zip’s use of any of its trade marks (“the Zip marks”).
The Company has used the Zip marks extensively since the business began 6 years ago in June 2013 and has since partnered with more than 14,000 retailers at more than 30,000 points of acceptance and has more than 1.2 million customers. As far as Zip is aware, Firstmac ceased offering a “ZIP” home loan product before the Zip business commenced in June 2013.
Zip has engaged law firm Corrs Chambers Westgarth to act for it and will vigorously defend the proceedings. Notwithstanding these proceedings, Zip is confident that it will continue to be able to use its trade marks.
Zip is also concerned by recent activity by Loans.com.au Pty Ltd (which operates the loans.com.au website, and is a subsidiary of Firstmac) in relation to home loan and debit card products being promoted by reference to “ZIP”. Zip is considering what action it will take in relation to this conduct.
https://www.asx.com.au/asxpdf/20190624/pdf/44621n3rkg5b69.pdf
It all sounds a bit... "wet" and vexatious from Firstmac to me so a buy order is tempting
(“the Company” or “Zip”) and its subsidiary Zipmoney Payments Pty Ltd have been notified that Firstmac Limited (“Firstmac”) has commenced proceedings in the Federal Court against Zip Co Limited alleging infringement of Firstmac’s “ZIP” trade mark which is registered in respect of Financial affairs (loans) (“Firstmac trade mark”).
Zip notes that Firstmac has commenced these proceedings now, when prior to this year Firstmac had not raised any issue in connection with Zip’s use of any of its trade marks (“the Zip marks”).
The Company has used the Zip marks extensively since the business began 6 years ago in June 2013 and has since partnered with more than 14,000 retailers at more than 30,000 points of acceptance and has more than 1.2 million customers. As far as Zip is aware, Firstmac ceased offering a “ZIP” home loan product before the Zip business commenced in June 2013.
Zip has engaged law firm Corrs Chambers Westgarth to act for it and will vigorously defend the proceedings. Notwithstanding these proceedings, Zip is confident that it will continue to be able to use its trade marks.
Zip is also concerned by recent activity by Loans.com.au Pty Ltd (which operates the loans.com.au website, and is a subsidiary of Firstmac) in relation to home loan and debit card products being promoted by reference to “ZIP”. Zip is considering what action it will take in relation to this conduct.
https://www.asx.com.au/asxpdf/20190624/pdf/44621n3rkg5b69.pdf
It all sounds a bit... "wet" and vexatious from Firstmac to me so a buy order is tempting
bigdog
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https://www.theage.com.au/business/...fore-latest-court-action-20190625-p5213y.html
Zip lost trademark battle over its name before latest court action
By Colin Kruger
June 26, 2019 — 5.30am
Afterpay rival Zip Co lost its attempt to strip Australia's largest non-bank lender, Firstmac, of the Zip trademark six months before the Brisbane lender started legal action against it this week.
ASX-listed Zip Co applied to remove Firstmac's trademark for Zip in August 2016 on the grounds it had not been in use by Firstmac for more than three years.
Firstmac had offered a Zip home loan "which is essentially a line of credit provided through an interest-free Visa debit card," said documents relating to the case which was determined by the Australian Trade Marks Office (ATMO).
Zip Co claimed that the loan product had ceased to be offered by Firstmac in 2013, but Firstmac has continued to use the trademark with thousands of ongoing customers since that time, and related companies have started using the ZIP name again.
The ATMO's decision noted that Firstmac had been "economical" with its provision of evidence relating to its opposition to Zip Co's action, but the hearing officer Jock McDonagh said: "I am satisfied that it meets the minimum requirements of establishing bona fide use of the trademark in the relevant period.
"The evidence satisfies me that there has been genuine commercial use of the trademark with respect to the specified services in the registration during the relevant period. The grounds for removal have not been established and I therefore refuse to remove the trademark."
Zip Co is not pursuing the option of appealing the decision in the courts but lodged a fresh "non-use" application to have Firstmac's trademark de-registered in March this year.
"It is following that decision, and the refusal of Zipmoney and Zip Co to comply with Firstmac’s demands, that the proceedings before the Federal Court of Australia were commenced," Firstmac said in a statement to the Sydney Morning Herald and The Age.
"Firstmac, and its affiliates and licensees, have used and have every intention to continue to use (and/or license the use) of the Zip mark in relation to their respective loan products."
IP Australia confirmed that Zip Co had its own attempts to trademark the Zip name rejected on the grounds that it was too similar to trademarks which had already been registered.
"It was examined and objections based on earlier trademarks were raised," IP Australia said of Zip Co's application.
"The owner did not overcome these objections and the application lapsed."
Zip Co shares closed 2¢ higher at $3.03 on Tuesday.
Zip lost trademark battle over its name before latest court action
By Colin Kruger
June 26, 2019 — 5.30am
Afterpay rival Zip Co lost its attempt to strip Australia's largest non-bank lender, Firstmac, of the Zip trademark six months before the Brisbane lender started legal action against it this week.
ASX-listed Zip Co applied to remove Firstmac's trademark for Zip in August 2016 on the grounds it had not been in use by Firstmac for more than three years.
Firstmac had offered a Zip home loan "which is essentially a line of credit provided through an interest-free Visa debit card," said documents relating to the case which was determined by the Australian Trade Marks Office (ATMO).
Zip Co claimed that the loan product had ceased to be offered by Firstmac in 2013, but Firstmac has continued to use the trademark with thousands of ongoing customers since that time, and related companies have started using the ZIP name again.
The ATMO's decision noted that Firstmac had been "economical" with its provision of evidence relating to its opposition to Zip Co's action, but the hearing officer Jock McDonagh said: "I am satisfied that it meets the minimum requirements of establishing bona fide use of the trademark in the relevant period.
"The evidence satisfies me that there has been genuine commercial use of the trademark with respect to the specified services in the registration during the relevant period. The grounds for removal have not been established and I therefore refuse to remove the trademark."
Zip Co is not pursuing the option of appealing the decision in the courts but lodged a fresh "non-use" application to have Firstmac's trademark de-registered in March this year.
"It is following that decision, and the refusal of Zipmoney and Zip Co to comply with Firstmac’s demands, that the proceedings before the Federal Court of Australia were commenced," Firstmac said in a statement to the Sydney Morning Herald and The Age.
"Firstmac, and its affiliates and licensees, have used and have every intention to continue to use (and/or license the use) of the Zip mark in relation to their respective loan products."
IP Australia confirmed that Zip Co had its own attempts to trademark the Zip name rejected on the grounds that it was too similar to trademarks which had already been registered.
"It was examined and objections based on earlier trademarks were raised," IP Australia said of Zip Co's application.
"The owner did not overcome these objections and the application lapsed."
Zip Co shares closed 2¢ higher at $3.03 on Tuesday.
bigdog
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Motley Fool today
https://www.aussiestockforums.com/threads/apt-afterpay-touch-group.33281/
Zip Co Ltd (ASX: Z1P) is an Afterpay competitor operating with a similar product offering in the same retail space. In my opinion, anything that Zip Co can do, Afterpay can do better.
However, while most people are inclined to choose a Coke over a Pepsi, that doesn’t mean that the Pepsi is a redundant product. Zip is on track to beat the expectations it set at the beginning of FY19, while already ahead of its goals of transaction volumes of $1 billion and a customer base of 1 million. The company has recently brought onboard some iconic Australian brands such as Bunnings, Officeworks, Target and Chemist Warehouse.
The Zip share price has also exhibited some constructive consolidation over the past two months and makes it a much more appealing investment in the short term.
https://www.aussiestockforums.com/threads/apt-afterpay-touch-group.33281/
Zip Co Ltd (ASX: Z1P) is an Afterpay competitor operating with a similar product offering in the same retail space. In my opinion, anything that Zip Co can do, Afterpay can do better.
However, while most people are inclined to choose a Coke over a Pepsi, that doesn’t mean that the Pepsi is a redundant product. Zip is on track to beat the expectations it set at the beginning of FY19, while already ahead of its goals of transaction volumes of $1 billion and a customer base of 1 million. The company has recently brought onboard some iconic Australian brands such as Bunnings, Officeworks, Target and Chemist Warehouse.
The Zip share price has also exhibited some constructive consolidation over the past two months and makes it a much more appealing investment in the short term.