A sharp rally in unprofitable ASX-listed businesses has intensified concerns of a bubble propelled by brokers spruiking highly speculative stocks, largely to rake in fees as they advise companies on raising money.
There are 36 companies listed on the S&P/ASX 300 that are building no money, according to new research from MST Marquee. The bquestionet of so-called “birds without wings” has returned 30 per cent over the past six months, smashing the sharemarket’s 13 per cent advance.
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