Klutch, good of you to clarify. Seems that a few posters here are either newbies in financial analysis and valuation ... or are shorting the stock and want everyone to sell out.
OFX has had a swarm of shorters for as long as it has existed, i think. Currently 3.5% of OFX shares are borrowed for shorting. On Monday (19th) 15% of trades were short trades. We'll find out today how many short trades occurred on Tuesday. Shorting: it's a sad way for people to engage in share markets. Imagine the world if everyone shorted rather than invested! Capital would be traded only through private equity and thereby restricted to the wealthy few.
Incidentally, on Tuesday, Macquarie reiterated its "outperform" of OFX with target price of $2.80. Acknowledged that OFX's dependence on banks for its fund transfer business is a risk in its strategy. However, Macquarie also said that OFX "has multiple banking relationships and minimal near-term impact is expected. Any sell off is considered a buying opportunity."
Klutch, good of you to clarify. Seems that a few posters here...
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Last
$2.05 |
Change
0.010(0.49%) |
Mkt cap ! $491.9M | |||
| Open | High | Low | Value | Volume |
| $2.05 | $2.07 | $2.03 | $228.7K | 111.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1370 | $2.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.07 | 3747 | 2 |
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| Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
| OFX (ASX) Chart |