Ann: S&P DJI Announces March 2022 Quarterly Rebalance, page-31

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prosperity

9,248 Posts.

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15/03/22

18:16

Post #: 60207697
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Originally posted by mrspeculator: ↑

Good question. From the very start, very few posters were downrampers and I believed in the business model. At the time, Prosperity was even gung-ho on it. I became suspicious when the August 2020 report came out detailing high costs. I ignored it and piled more in.
It continued falling and I thought the market was wrong and I was right. Little changed and bad debts stayed too high as well as overheads.
When the US announcement came, I thought a turn-around was due, but I should have sold then. I didn't. The Pay Assist announcement came after that... and that was it. It just continued in its unrelenting slide.
We all laughed and taunted Prosperity, but what he predicted came to pass.
A pro BNPL YouTuber said there would be a turn around, but it hasn't come. I commented (at $1.20) to him that OPY would sink back to 0.32. I was only joking, but that punchline was real.
So now? It's nothing short of a disaster. There is nothing concrete coming out of the US venture and the CEO is getting a hefty salary... say no more. They're running out of cash and another cap raise is almost impossible. You only need to look at Z1P & SZL to see how desperate things are.
My next prediction is OPY will be where LBY is. Sub 10c. Instos and retail investors jumped in at $2.04 and have seen their investment evaporate, and many are already out.
Hit 31c today. These jokes just aren't funny anymore.
I'm cooked a little over $10K on this, but many others are out of pocket $100K+

So, same question reversed, why are you still holding?

Expand

Some have lost millions of dollars.
Think of those that bought at the IPO and are still holding. Think of the substantial holders that bought at $4+ and are still holding.

Openpay is a joke. Give it 3 months after Laybuy and it will follow its lead.

Have a look at Zebit. Based on the current sentiment and I am expecting Openpay to fold by the end of FY22. If that fails by the end of CY22, however I don't think they have enough cash to trade much beyond end of FY22.

Call me a downramper, but the truth can hurt sometimes.

Last edited by prosperity: 15/03/22

OPY Price at posting: 32.0¢ Sentiment: Sell Disclosure: Held
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Ann: S&P DJI Announces March 2022 Quarterly Rebalance, page-31

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