Don't think OM was ever profitable.
AFR 5th May - "Clearing and settlement platform Openmarkets is understood to be reaching out far and wide in search for a new investor, as its talks with listed retail trading platform SelfWealth fizzle out."
OM is not a proposition to merge with SWF because of OM's greater lack of profitability. OM's CEO leaving didn't look like a vote of confidence, given he held about 25% of the shares.
SWF is paying under $5 per trade, probably around $3 - there just isn't much more to negotiate with OM.
Still, SWF is a good business - higher interest rates will help, together with crypto trading and overseas trading and developing a better user experience. Unless OM comes up with new investors, SWF needs to be ready for an alternative - Andrew Ward's experience at Finclear might help.
Ann: LGGC Statement to Members, page-49
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Mkt cap ! $27.80M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
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| Price($) | Vol. | No. |
|---|---|---|
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