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ASX Top 200 Stocks Down Under 20 June 2022: Pexa (ASX:PXA)
Pexa: It won’t be a monopolist much longer
Pexa (ASX: PXA) was one of the biggest IPOs of 2021. It is a platform for electronic conveyancing – the process of transferring properties and their legal title. Conveyancing occurs when properties are transferred between different owners or when owners refinance their properties with different lenders. Pexa’s first few months of listing were positive because the property market ran hot and Pexa had that heat virtually all to itself. Unfortunately, it has been let down by the cooling of the property market, a slow roll out into the UK and the threat of losing its monopoly.
Click here to read the previous edition of ASX Top 200 Stocks Down Under published 6 June 2022