Pity...something has to change for this company to be viable...

Trouble...

Selfwealth was a darling of the market during parts of 2020, getting as high as 75 cents. But has since been mullered as trading volumes across the market broadly normalised and cheaper competition entered. It's tough to stay relevant when your main selling point is price and then you get undercut.

[Not held]

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It's a little difficult to understand exactly where SWF are at the moment. According to today's 4C active traders are up but trades (and revenue) are down. If being kind they're really just treading water waiting for the next major 'event' that causes a step change in volumes. Being less kind they're not really treading water because they're losing money at a rapid clip ($2.6m hit to cash this quarter), which isn't great for a company that just isn't growing. Competition seems like it isn't going to do anything other than increase with Stake offering $3 CHESS-backed ASX trades. I'd be interested in hearing a bull case for this company but to me it looks like a company that is going to get overtaken by bigger rivals with deeper pockets.

[Not held]