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July 6th, 2022 | 11:54 CEST

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

  • Investments
  • Online
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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:

    Thomas Soltau, CEO, wallstreet:online capital AG
    "[...] With, we have been committed to the self-deciding customers for almost 20 years and have been reducing the costs of capital investment in the long term. [...]" Thomas Soltau, CEO, wallstreet:online capital 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.

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    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

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