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musicMagpie to launch on Back Market – the competitor that could not exist: NOT good news

By Tom Winnifrith | Monday 25 April 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Today, this was announced via RNS Reach, but, surely, it is significant. In a bad way. In its IPO Prospectus of a year ago, musicMagpie (MMAG) said it faced no competition. That was a lie. It already had, in the form of E5 billion, Unicorn Back Market. Today, music states it will also sell its electronic goods on Back.  The financials…

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