STOCK WATCH: Is There a Change in the Air?

Natasha Sholl By Natasha Sholl | 13 Oct 2021

BikeExchange is up, Kogan is down and has Cettire plateaued? We look at the performance of the Australian Listed E-Com Index.

As we head into the busiest e-commerce period on record, where are investors placing their confidence?

BikeExchange has experienced some bumpy terrain in recent months, with its share price going downhill. But is it about to shift gear? In the last 30 days, stock has grown from $0.16 to $0.19, marking 19.4% growth. Three months ago, it was hitting $0.23. Can it reach these peaks again? All signs point to ‘yes’.

On the flip-side, Kogan seems to be losing favour with investors, shedding over 7% in the last fortnight and losing 11.9% over 90 days. Back in April, shares were consistently $13+, yet these days it is struggling to stay over the $10 mark, closing at $9.95 on Tuesday. It’s interesting that heading into a period that would be perfectly primed for Kogan’s success, when electronics purchases reign, investors aren’t necessarily buying early.

Source: Australian Listed E-Com Index based on ASX Reporting

The same can be said for Cettire. While we saw massive growth in recent months, its share price seems to have levelled out. We have long speculated about just how much longer it could continue its growth trajectory (after plummeting back in June to well under $2, resulting in a trading halt) and it seems the answer is…until about now. Two weeks ago, Cettire closed at $3.53 but opened at $2.98 today, marking a loss of 15.6%. Will it now plateau?

Redbubble is also showing signs of slowing growth after leading the Australian Listed E-Com Index last week. Its share price jumped a massive 32.7% over 90 days, but gains over the last week were just 1.1% (closing at $4.55 on Tuesday).

Last week we were keeping an eye on Adore Beauty and wondering whether we’d the see $5+ share price it was recording in August in September after a slower start to October. We can already answer this question, with Adore hitting $5 twice before we’ve even reached mid-October. Opening at $4.72 this morning, it has grown 8.3% over 7 days, the share price correcting like a fluid primer and smoothing out those fine lines as we head into the holiday season. (Sorry).

Booktopia has shown little movement either way in recent months, sitting fairly steady. This trend has continued in the last few week, shedding 1.9% in the last fortnight. Similarly, MyDeal and Temple & Webster aren’t showing massive swings. Temple & Webster dropped 3.9% in the last week, in contrast to the 18.5% growth over three months. It closed $12.11 on Tuesday, up from $10.22 back in July. MyDeal closed at $0.75 on Tuesday, up just 1.4% in the last fortnight.

Looking at the last 7 days, the Australian Listed E-Com Index (2% growth) is outperforming the ASX200 which shed 0.4%. We can see a similar trend at the 90 day mark, with the E-Com Index growing 4.8% and the ASX200 shedding 0.7%.

Figures are current as at close of ASX on 12 October 2021. This is analysis only and not intended as investment advice.

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