People have been saying controlled SP and institutional manipulation all the way down from 80c.
I wonder when the delusions will clear and people will realise that perhaps it’s just a bad environment.
BNPL is fast being commoditised by larger and better capitalised global competitors and covid is fast eating into the time IOU had to establish themselves and gain first mover momentum in the Malaysia market
The communications from management (the little that they have said so far. It’s been pretty quiet) has been BNPL focused so you can try and spin their investment in other areas how you want, but it’s not a core business investment it’s a diversification to support a struggling strategy.
unless IOU can quickly monetise their BNPL efforts far more than they have done, the best that they could hope for is a buyout. But then, buyers would only be interested in the BNPL. Why buy iou via a carve out of the BNPL specifically when you could just buy a BNPL specific business? Too messy.
there was an opportunity for IOU to really take off, but it’s looking increasingly like the headwinds are going to be an insurmountable barrier, at least in the short to medium term.
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