The wave of new companies coming to the market continues apace. The latest new-stock-on-the-UK-block is re-commerce business musicMagpie. Trading of its shares began today on the (junior) AIM market of the London Stock Exchange. As someone who only very recently used its services and loves small-cap stocks, I’m keen to look into the investment case for the company. Should I buy MMAG shares today?
What is musicMagpie?
Founded in 2007, musicMagpie is a dream for anyone who likes to declutter. It specialises in “refurbished consumer technology“. It takes the stuff we no longer want — including smartphones, video games consoles, CDs and DVDs — and then sells it on. Previous owners get some fuss-free cash for their unwanted things and the company pockets the (often sizeable) difference between what it pays to acquire them and what it goes on to sell them for.
Thanks to the multiple … Read more