I hate the price drop and it does OFC hurt most incl me. I'm not sure what is the problem but I'll comment on a few:
All BNPL stocks were made darlings of the mkt with assumptions that provide little profit and so MCs have dropped across the BNPL board.
Investors over the covid period have chased abnormal returns and have dumped viciously where under-performance exists.
IOU mgnt - so we thought- would use the $50m CR to bulldoze their BNPL success as at the time we all felt it was the way to go. This has been seem as a big mistake - though I'm not sure due to the losses witnessed by other BNPLs. I think profit is what should be aimed for, not transaction numbers and we witnessed losses playing a really big part in the BNPL space.
IOU have 6 limbs in digital banking which in Malaysia I believe seems a clever business approach. Others have talked about this and we all see we are not out of the woods yet. BUT, with all that has gone on it suggest that their trial and error clumsiness are still allowing IOU to build momentum in digital banking. Only Due to it been Malaysia - a developing digital banking system in a strong Islamic region digital do I think they have the right method albeit slow haphazard and disliked by investors
E.G.
The purchase of IDSB seems to me like trying to add on another limb into their digital space and confronts us frustratingly in that it uses CR funds designed for BNPL.
Anyway this is like being in one of those landing on the Hudson airline rides when you really just wanted to get to Disney. I now just have to wait for what comes. Crazy though it sounds I think the pilot has it in hand. Landing well is all I want ATM.
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Open | High | Low | Value | Volume |
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6 | 2494999 | 0.024 |
16 | 3280477 | 0.023 |
6 | 1088835 | 0.022 |
14 | 2324935 | 0.021 |
Price($) | Vol. | No. |
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0.027 | 1211017 | 11 |
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