I told so many times, ATM is a dying business and people in india are not happy paying atm fee or with corrupt government. The app is also facing stiff competition from other big player. In my opinion, indian are smart to find loophole, bypass tax and fee. Most will find a way to avoid atm fee. Even though you see slight increase in revenue, this company won't make money in 3rd world country. Those companies succeed in india have political connection, and/or dont pay taxes or get revenue from oversea IT export through cheap outsourcing job. It is more challenging for oversea companies to do busiess with local, and even more difficult deal with their government and their laws. More dilution is on the way though IPO and doubt it will back to $8 anytime soon. However, there are few opportunities to trade for next few month.
FND Price at posting:
$3.64 Sentiment: None Disclosure: Not Held
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