Purple Group is a financial services offering investment solutions, online trading, investing and asset management. They are the group behind the EasyEquities platform, which is fast gaining popularity in South Africa. Is Purple Group a good share to buy? That’s what we will be looking at in this article.
This is not financial advice and doesn’t qualify to be one, this article is purely the opinion of the author who also happens to own Purple Group shares.
Purple Group, the next big thing?
I have invested heavily in Purple Group through the EasyEquities platform and will continue to do so for the foreseeable future. At the time of writing this around, one Purple Group share is around R1.48.
As part of my investment style, I only invest in companies that are operating in categories that have a potential for exponential growth, said companies should be in a position to benefit from this growth.
The financial services sector is very competitive as it stands, however, Purple Group is not directly competing with these strong companies. It has opened up new categories (blue oceans) and is currently a dominant player in the new categories it has created.
Over the long term; it’s easy to imagine that these categories will grow in popularity and Purple Group is in the best position to profit from that growth.
Purple Group owns both EasyEquities and EasyProperties, these are platforms that make it easy for the ordinary person to invest in stocks or properties. Investing in either of these two was something that was believed to be for only rich people. As it stands, you can open an EasyEquities account for free and can even deposit a R20 and buy shares with it.
As a result, a lot of people are opening an EasyEquities account, with more people using the platform, there is increased investor confidence. This means that the share price is likely to increase. There is always danger of competition but as it stands, EasyEquities is far ahead and is unlikely to be dethroned.
These are not the only brands the company owns but these are the brands that are likely to fuel the growth of the company.
Purple Group is growing at a rapid pace and is likely to keep growing for the next several years. It is only logical that the share price of this innovative company will shoot up as time goes on. Again, this is my personal opinion and doesn’t constitute financial advice.