Lok’nStore still loves to (expensively) hold your junk
By Chris Bailey | Monday 30 October 2023
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.
It is a new week but I see in today’s range of corporate numbers that Lok’nStore (LOK) still has lots of people’s junk to store, with its full year numbers to the end of July seeing a just over 5% rise in self storage revenue year-on-year. A bit like many things in life, if you have not used something for many years, you are never going to use it and, given the existing online capability to sell pretty much anything you like to someone else, I am amazed the average citizen does not shift a bit of their junk for a few quid…so they can buy some prospects for tomorrow’s list of junk (or pay a few bills and the like). However, life is changing a little bit…
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.