Xero chief executive Sukhinder Singh Cassidy gave the standard response when asked why another $1 billion had been wiped from her company’s valuation after a seemingly solid set of full-year results.
“Believe it or not, I don’t spend a lot of time worrying about the in-day share price,” she told Capital Brief.
“I think a lot about creating long-term value.”
But with the stock now down 60% against the benchmark ASX 200 over the past 12 months, shareholders are struggling to see an end to the turmoil.
“It doesn’t seem to matter what you do if you’re a SaaS company,” said Milford portfolio manager Jason Kururangi.
