Why would anyone participate in the fundraising at this point?...

Why would anyone participate in the fundraising at this point? The company is deeply unprofitable, and has no path towards breakeven in sight. It burns 3 bucks for every 1 bucks of revenue.

I made a lot of money (close to 6 figures) from OPY during the BNPL craze of last year, but I think sadly this one will not make it. When craze fades, fundamentals start to matter, and no matter how you spin it, the cashburn rate of this business, when combined with the lackluster growth, makes it an unviable business.

I have no short position on OPY and I don't know any brokers who allow you to short it.