Looks like most of the people who wanted out are gone.
- Paradigm shift toward money flowing into the stock since new year
- Multiple days of 7m shares buying brought during recent breakout
- Friday sell off of 5.5% occurred with tiny volume, only 900k traded
- 20 EMA moved above 50 EMA first time since Sept
- 50 EMA has acted as a resistance since Sept/Oct but has now become a support with multiple touches since late Jan breakout
Recent announcement
- "Medium term profitability" in sight according to directors
- Woolworths B2b deal almost rolled out 100% - "capital light" source of revenue = cost will not be an issue in medium term
- Big jump in TTV and Revenue despite not even being in US yet ("in late-stage discussions with big brand enterprise merchants and large-scale aggregators")
- Roll out into niche/unsaturated verticals of healthcare and Automotive in both UK and US taking place this half
Any one else have any thoughts on this one as OPY has slipped off the radar for most people over the last few months. Have not gone into mega details but keen to know genuine thoughts. The B2B product cost nothing to run so will become a cash tree as Woolworths deal and other businesses are rolled out fully. In the Q2 update Eidel said about the US B2B market - "We are negotiating several near-term opportunities which would deliver growth well over and above our current volumes"
Thinking Openpay is in the process of cracking the US and will definitely have its time in the sun...
