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19.5¢ openpay group ltd

afterpay/openpay house of cards?, page-141

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11,142 Posts.

478

14/06/20

11:27

Post #: 45209902
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Originally posted by prosperity: ↑

So $8k was stolen. It's a drop in the ocean. Most BNPLs have a 2% bad debt % and some of that is fraud related.

Say a company has $1b in receivables and 2% is bad debt, then $20m is lost due to bad credit or fraud. What is $8k in the scheme of things? A drop in the ocean, even for OPY.

Plus Openpay have probably closed their loopholes and this is old news. Someone wants cheap shares and the best opportunity was Friday.

The DOW has since rejected the sell off on a few occasions on Friday and finished up close to 2%.

Open Pay has a major account in Woolworths. I would be loading the kitty before this is a $1b company. Literally, $10 per share is probably only a couple of years away.

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If you think it’s only this one incident, then you’re a dreamer.

This one incident made it’s way to the media. Got to be plenty more

From memory, OPY has IT development done in the Ukraine or somewhere around there. Probably need to bring it back home and pay for quality

OPY Price at posting: $2.26 Sentiment: Sell Disclosure: Not Held
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