OVT (ASX) $1 Club

Originally posted by SebbyV: ↑

Hey mate, yeah don't let it get to you - I'm still a holder, though have trimmed back my position recently, and I'm still broadly bullish, but I'm a critical bull. Every investor, if bullish, should always be a critical bull. It's your capital at risk - you should be vigilant with monitoring progress and updates as time goes on. For what it's worth I think at this valuation investors will be fine over the medium-long term - if the team executes well I could see this being a $1bln+ company, but that doesn't mean it's inevitable. If they put out info saying the roll-out has hit some major issues with COVID in Malaysia, that I can completely understand. Surely also expansion to Indonesia will be delayed due to the awful COVID environment there.
I get the pivot to BNPL is in its infancy, but this company is not. They have years of structure, processes and systems in place. They also have $50m in cash. That means they possess a major advantage over domestic and regional competition, which I would argue is what is helping to attract some of the exec talent they have recently hired. But that then causes issues when we see things like a completely non-existent social media strategy - 2 Instagram accounts for the same business, 150 followers, erratic posts and almost no engagement. All this can be fixed, all we're saying is a company with these kind of resources should be onto this stuff by now. The strangest thing for me by far (on top of the 'Take out the trash o'clock quarterly announcement times) is no ASX announcement for the hard launch of the myIOU product.
Also ignore posters who say 'just sell your shares' - it's literally the dumbest thing they could suggest to holders, especially considering, with literally 0% short interest in this stock at the moment, plenty of holders have sold and contributed to an approx. 70% drop in share price.

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Thanks mate - finally a measured response that I learnt from and has convinced me to hold on to the remaining 25% of my shares. The back and forth has given more conviction to the Covid situation halting their plans and their style of launching the product.

As I've said before in earlier posts, Atome are doing all the groundwork in educating the market and it will be a lot easier to sell through their partnerships over the next 6 months.

I firmly believe they expected the merchants to just roll in easily, so now they can adapt and change strategy. Holding off on marketing the launch so far has probably been down to their lack of quality merchants, which would make sense. They are probably waiting until Razer is integrated and they see how many they onboard from there. If I was running the company, I probably would have spent very little on paid ads bringing customers on to the existing site (although I certainly would have cleaned up the social media pages and gained some more followers etc.).

Whether the Razer integration takes off or not, like you said, they do have some track record and experience to make that pivot and they may be in the right place at the right time. In terms of risk/reward, for me personally, it does make sense to hold my remaining shares. I did really believe in this company before, and with the right update and the right information and some better execution, we could gain some traction across SEA.