Close menu

July 6th, 2022 | 11:54 CEST

Synergy effects as a risk buffer: Amazon, wallstreet:online, Volkswagen

  • Investments
  • Online
  • Shopping
  • Broker
Photo credits:

Experienced value investors look for an "economic moat" in attractively valued companies. These business model characteristics make it particularly immune to external influences and disruptive factors. These include, for example, low-priced items that are a hit with consumers thanks to strong brands and are therefore readily purchased even in times of crisis. Another form of "economic moat" can be different divisions and business units that complement each other. We highlight three synergy stocks and explain how they can be stable investments.

time to read: 3 minutes | Author: Nico Popp

Table of contents:

    André Kolbinger, CEO, Smartbroker Holding AG
    "[...] The mere fact that we have to write off around EUR 5 million shows that mistakes were made. We have to admit this quite openly to ourselves. [...]" André Kolbinger, CEO, Smartbroker Holding AG

    Full interview


    Amazon: This ecosystem will not let us go

    If you are a customer in the Amazon universe, you might remember your own personal, long-term customer journey. In the late 1990s, you ordered your first book, then gradually added more products, finally joining Prime and ordering even more items from all kinds of areas. Then came Prime Video and items from the Smart Home sector. Since then, it has been easy to order from Amazon's shopping list, which is managed via a smart speaker. Those who consume media content free of charge with Prime Video will undoubtedly rent a movie for a fee at some point or even use pay apps like DAZN or Netflix. Anyone who takes a closer look at Amazon's offering for private customers will quickly see that everything is connected to everything else.

    Over the course of a year, the share has lost just under 30% in value. Above EUR 100, however, the share could now find a bottom. Whether it is the first address for shopping or a digital media company - there is always a reason to look at Amazon. Although observers expect this year's Prime Day, the discount battle in July, to be somewhat less spectacular, this should not cost Amazon any customers. On the contrary, the Company is doing everything it can to remain attractive, most recently securing the rights to a weekly Champions League match in the UK. Amazon's stock also clearly belongs in the premier league.

    wallstreet:online: When will the market look past the transition year?

    wallstreet:online wants to move up into the royal class of brokers with its Smartbroker. The Company, which has enjoyed a good reputation for many years due to its numerous financial portals, attaches great importance to leveraging synergies. Whereas the traditional media business used to be cyclical, as a modern financial services provider, the Company wants to be predictably in the black and grow strongly. Most recently, the Company saw itself in a year of transition. The Company is currently working on obtaining further approvals from BaFin for Smartbroker so that it can ultimately benefit even more from the success of the brokerage business.

    To really pick up speed, Smartbroker 2.0 is to be launched in the second half of 2022, which will offer customers new options and also better integrate the portals with the brokerage offering. Until the new version of Smartbroker is ready, wallstreet:online will invest little in marketing. After that, the Company wants to target customers more precisely. Nevertheless, the number of customers is expected to grow by 55,000 in 2022 - and even more in the following years. The Company expects this to generate economies of scale. Integrating brokerage and media content relating to the stock market is also promising. Offering everything from a single source always provides a reason for customers to come back. The wallstreet:online share has lost 30% over the past year but is now stabilizing. If Smartbroker 2.0 proves convincing, the stock should resume its upward course.

    Volkswagen: Crisis overshadows any synergy

    While Amazon and wallstreet:online's chart currently gives hope of a comeback, the situation is different for Volkswagen. The stock has been stuck in a clear downtrend for a year. The lower the share price falls, the more attractive the dividend - EUR 7.50 per ordinary share. The example of Volkswagen shows that synergies alone are not the key to success. Car manufacturers have relied on platforms for many years, covering several models with the same technology. Given the looming energy crisis and inflation, which tends to make middle-class consumers reluctant to buy a car, the share price is plummeting. In the first half of the year, the number of new car registrations in Germany fell by 11%.

    In the future, too, customers are likely to think twice before buying a new car in view of the price shocks. The hurdle to purchasing from Amazon is significantly lower. Even buying shares need not be a luxury in the current emergency. People still have savings and want to preserve their purchasing power. While real estate is currently stuck in a state of shock, shares offer flexible options. It would also not be the first time the recovery rally starts in the midst of a crisis. wallstreet:online is well-positioned to attract customers in the future.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

    Risk notice

    Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.

    The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.

    The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.

    Der Autor

    Nico Popp

    At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.

    About the author

    Related comments:

    Commented by Stefan Feulner on March 20th, 2023 | 09:37 CET

    Evotec, Defence Therapeutics, Morphosys - Movement in the biotech sector

    • Biotechnology
    • Investments

    Is a new wave of takeovers starting in the biotech sector? Already last year, acquisitions by Big Pharma were expected to increase, but these largely failed to materialize. However, this could accelerate in the current year. On the one hand, pharmaceutical companies, such as vaccine manufacturer Pfizer, have deep pockets and need new innovations for their product portfolio; on the other hand, second-tier stocks are attractive targets due to the strong correction.


    Commented by Juliane Zielonka on March 17th, 2023 | 19:17 CET

    First Hydrogen, Volkswagen, Daimler Truck - The unstoppable energy transition, who is winning the race?

    • Hydrogen
    • fuelcell
    • Investments

    Canadian fuel cell manufacturer Ballard Power joins First Hydrogen for LCV test drive. The two companies are cooperating to produce the world's first hydrogen-powered vans. According to expert forecasts, the logistics industry will be worth EUR 13.7 billions by 2027. Change at Volkswagen's premium Audi brand is proceeding rather sluggishly. The regulations imposed by the EU are causing problems for CEO Duesmann, who sees it as unrealistic to implement everything that Brussels demands by 2025. Daimler Truck, on the other hand, is looking forward to a major order that will soon get 1.8 million people in the Hamburg metropolitan region moving. The Hamburg-Holstein transport authority signs a major order.


    Commented by Juliane Zielonka on March 16th, 2023 | 12:07 CET

    Alpina Holdings, Vonovia, Credit Suisse - Real estate market booms in Asia, Europe staggers along

    • RealEstate
    • Investments
    • Banking

    The Silicon Valley Bank knockout is also making its rounds on this side of the Atlantic. Credit Suisse shares are currently reeling, sliding 30% lower, after its main shareholder ruled out further support. This helped drag down all European banks. That is not all. The real estate industry across Europe is also trembling as the EU Parliament has passed a resolution for the compulsory renovation of all houses. By 2050, all buildings in Europe are to be climate-neutral. As early as 2028, only buildings that are considered "emission-free" are to be allowed to be built. Existing buildings will have to be refurbished if they are deemed to be in poor condition. That means immense renovation costs for the Vonovia real estate group, which is suspected of corruption. The Singapore-based company Alpina Holdings is in a better position here. The Company builds and manages both public and private properties in the Lion City. Read here what this means for investors.