Transaction Capital: Reaching the end of a rocky road

Taxi tribulations created a huge pothole but WeBuyCars boosted its profit with finance and insurance sales

In October 2021, when Transaction Capital was trading at about R42 per share, our price target was R48. That was reached by January 2022, and it would have been a good time to take profit because the share ran out of puff this year.

It’s difficult to put Transaction Capital in a particular box. If you’re tempted to compare the share’s performance to the FINI 15, its 13% slump in the year to date looks poor, since the index is up nearly 6.7%. Focus on WeBuyCars and it looks even worse, since sector peers Motus and Combined Motor Holdings are up 9% and 12.5% respectively...

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