Online sports retailer has lost about 50 percent since its IPO in New York.
In the first week of July, the ORF business magazine “Eco” even devoted a special edition to René Benko’s activities. The 30-minute TV piece also features former Chancellor Alfred Gusenbauer, who is a member of the Signa Group’s advisory and supervisory board. When asked why so many people entrusted René Benko with so much money, Gusenbauer explains: “Well, it’s quite simple: an investor is interested in the money he invests and earns a decent interest. All investors are the same. And he did that from the beginning. the beginning. Investors have always earned well.”
Under five dollars
Well deserved? Investors in Benko’s Signa Sports United cannot say exactly that. On the contrary. If you look at the online sports store’s latest quotes on the New York Stock Exchange (NYSE), your mouth will probably drop open: Since its stock market debut in December 2021, the Benko paper has lost more than 50 percent of its value, the stock is in the meantime dropped from $10.56 to below $5 (last closing price was $4.90). The market cap looks correspondingly sad.
Just days after Signa Sports United’s premiere on the trading floor, “Bloomberg” reported that the paper was one of the worst performers in New York – within a few days in December 2021, the stock lost a quarter of its value. The Swiss “Handelzeitung” casually commented on this development as a “flop” even before Christmas: “A successful debut looks different.”
A few weeks ago, Signa Sports United’s investors had little reason to rejoice when looking at the balance sheet figures for the first half of the year, which showed a bitter net loss of €202 million.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
