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The latest update is out from Market Herald Ltd ( (AU:GUM) ).
Gumtree Australia Markets Limited has signed a Memorandum of Understanding with NZME Limited to explore the development of a new digital marketplace in New Zealand’s automotive sector, which is valued at approximately $125.3 million annually. This partnership aims to introduce competition in a market currently dominated by a single player, leveraging NZME’s media reach and Gumtree’s technology. The collaboration also includes a content sharing agreement, where NZME’s Driven Car Guide will publish selected Carsguide reviews, with shared advertising revenue, potentially impacting both automotive dealers and consumers by offering more choices and value.
More about Market Herald Ltd
Gumtree Australia Markets Limited, a division of Gumtree Group, is one of Australia’s leading classifieds businesses. The company is known for its automotive brands such as Gumtree Cars, Carsguide, and Autotrader. It focuses on providing digital marketplaces and has a strong presence in the automotive sector.
Average Trading Volume: 113,623
Technical Sentiment Signal: Sell
Current Market Cap: A$32.1M
For detailed information about GUM stock, go to TipRanks’ Stock Analysis page.