At Spaceship we’re long-term investors. But we still keep an eye on what’s happening in the market day-to-day.
These were the companies in our Spaceship Voyager portfolios that made some big moves last week (13/06/22 - 17/06/22).
Moving up
Carsales
(Carsales is in the Spaceship Universe Portfolio and the Spaceship Origin Portfolio.)
Carsales rose 4% last week (13/06/22 - 17/06/22) on no news.
Carsales.com was founded in 1997, and is now a premier online automotive classifieds business in Australia.
Carsales and its subsidiaries sell cars, motorbikes and marine vehicles online, employing more than 600 people in Australia and around 1200 across the world, with growing presences in Latin America and Asia.
Longer term we’re impressed by Carsales’ continued product innovation which reduces customer friction making it easier to buy and sell cars.
For example, Carsales’ Instant Offer product offers sellers hassle-free quotes direct from dealers which means they can avoid private buyer haggling.
For buyers, Carsales Select allows customers to buy pre-inspected cars with detailed car history and a 7-day money back guarantee.
Moving down
Block
(Block is in the Spaceship Universe Portfolio, Spaceship Origin Portfolio and the Spaceship Earth Portfolio.)
Block (AU listed) fell 20% last week (13/06/22 - 17/06/22) after details emerged that Apple is introducing a Buy Now Pay Later feature and will handle lending for it internally.
The feature - called Apple Pay Later will let customers split up the cost of any Apple Pay transaction over four installments across six weeks. The program will roll out in the US initially but will expand as Apple brings more of its financial services offerings global.
Overall fintech stocks performed weaker last week after reports the US CPI Inflation rose to 8.6% in May and investors shunned riskier assets.
One or more of the Spaceship Voyager portfolios invest in Carsales, Block, and Apple. Please refer to the Spaceship app or our website for more information on what each portfolio invests in.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
