With a ~$20M market cap, OVT has to be getting cheap around these levels
Whilst the resident clown on these threads will have you led to believe: - Everybody is running to the hills to sell - Voluntary administration was a better outcome for holders
There have only been 2 days out of the last 18 trading days where the value of shares traded for the entire day has surpassed $100,000
Furthermore, the average volume of the last 18 trading days is 1.95m shares/day, with 5 of those days trading @ less than 1m shares
Doesn't exactly scream 'everybody rushing to sell', particularly for a company with over 1.1B shares on issue, averaging out to trading roughly just under .002% of the entire share register each day....
Obviously we will know more come June reporting time surrounding the direction of the company and hopefully more news regarding the retrieval of the misappropriated funds
An article from last week in the SMH surrounding BNPL, specifically Afterpay
'On Tuesday, Afterpay released research it commissioned on the company’s economic contribution which said Australian customers had saved $127 million in fees and interest compared to credit cards in 2023, while 65 per cent of merchants said they had gained exposure to new customers'
'More recently, however, sentiment towards the industry has improved, with shares in Afterpay’s local rival, ASX-listed Zip, more than doubling in the past year.'
'Morningstar analyst Shaun Ler said there had been some improvement in sentiment towards BNPL firms, but this was also being driven by hopes of interest-rate cuts, which have rekindled investor interest in early-stage tech stocks.'
OVT Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
