OpenPay heading to 52 week lows as it launches in the US and there is a cloud over the Payment Assist acquisition.
OpenPay recently held its AGM. No notable news and the company is diluting at the rate of knots. OpenPay shareholders are mostly experiencing losses as its SP is below IPO. Many placement holders are nursing massive losses including KMP.
Shorters are on the rise and cornerstone investors are not too keen to risk on this unproven company that has missed key deadlines and underdelivered to date. Its revenue margins are contracting and double digit Revenue % was another dream sold to the market in a ruse to garner investors.
If you are expecting profit or dividends think twice as the business model is not delivering. In comparison APT, SZL and Z1P rose today as the market showed its preference for established players.
OPY Price at posting:
$1.17 Sentiment: Sell Disclosure: Not Held
