It is based on the nature of NOV's products, which has a focus on tourists retails(mobile money, one-off/top-up cards, digital vouchers), international students (ChinaPayments) and immigrants (flexwallet). And it is also based on the generic reduction of business activities during the COVID.
It is almost undoubtful GDP will have a backward growth and this impact will last for at least another 1-2 years.
However, the real opportunities for NOV to shine is Novobank, considering the entire society will pace up to cashless after COVID.
NOV Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
