OPY - Openpay Group

[System]

Openpay is a payments technology company that offers a buy now, pay later (BNPL) product and is headquartered in Melbourne, Australia.

Openpay provides a payments platform that facilitates seamless, secure and swift payments between customers and merchants. The Openpay platform allows customers to make in-store and online purchases, and effectively split the payment for these purchases into multiple repayments over time, while attracting no interest.

Openpay operates in the payments technology industry and currently provides its platform to merchants and customers in the consumer retail, automotive, healthcare and home improvement sectors.

At present, Openpay provides services to customers and merchants predominantly in Australia and New Zealand, and recently began offering services in the United Kingdom.

Openpay generates revenue from fees charged to both merchants and customers in exchange for the use of its payments platform.

It is anticipated that OPY will list on the ASX during December 2019.

https://www.openpay.com.au

 

[frugal.rock]

So this one opened at $1.65 for the first day of trade.
Prospectus was at $1.60, page 111.
Down to 1.325, or - 17.2% on a day when the XFJ got up 1.9% and closed at 1.7%
Not a great start for the investors.
F.Rock
PS; only new about this one has it has been entered in the 2020 comp.
Will be an interesting one.

 

[frugal.rock]

So has been trending all week to a double low yesterday afternoon testing around $1.10, but sitting in an apparent bowl trend/inverse.
Showed some strength signals today and had a minor break/spike up to 1.29 around 2pm.
It ran back to 1.19, shortly before close of 1.21.
Final close today 1.25. I hold.
F.Rock
PS, how are back tests on stocks 4 days old? Would be interested in hearing someone's results. See if it matches an inverse theory.? Cheers

 

[barney]

So has been trending all week to a double low yesterday afternoon testing around $1.10, but sitting in an apparent bowl trend/inverse.
Showed some strength signals today and had a minor break/spike up to 1.29 around 2pm.
It ran back to 1.19, shortly before close of 1.21.
Final close today 1.25. I hold.
F.Rock
PS, how are back tests on stocks 4 days old? Would be interested in hearing someone's results. See if it matches an inverse theory.? Cheers

Not sure exactly what to make of this one after it got sold off immediately on listing. Todays price action was definitely more positive however.

$1.14 looks the short term support level and back above $1.30 would make holders a lot more comfortable. All still to be revealed though.

 

[frugal.rock]

I'm not sure about it either. Can't be sure about any trade.
At least there's only 4 days of data to look at.
The sell off conductor must be proud of themselves, it rolled on down well. Grabbed by the shorties I suspect, with a good push and shove to get it moving, momentum did the rest, all after a pump and dump open.
Will be keeping a sharp eye on it tomorrow.
If it looks like a duck...
Who buys at IPO and dumps straight away? Hoping for the Santa rally... tomorrow please! settled Tuesday. Would be nice.
Cheers

 

[frugal.rock]

ASX Announcement
7 September 2021

Openpay announces major partnerships in Automotive and launches Healthcare in the
UK
 Major partnership signed with Goodyear & Dunlop Tyres Australia, with 450 tyre and auto service businesses including Beaurepaires instore and online, Goodyear Autocare and Dunlop Super Dealers

 Openpay has secured preferred BNPL provider status in partnership with the Victorian Automobile Chamber of Commerce (VACC) and Bosch Car Service Australia

 Agreement signed with Nexus Hospitals in Australian Healthcare vertical

 Agreement signed with Henry Schein UK, delivering an integration with Software of Excellence, a global leader in the provision of dental practice management software and marketing solutions

 Healthcare launched in the UK with veterinary practices preparing to commence transacting with Openpay
via the ezyVet integration

 

[frugal.rock]

Was an announcement this morning I noticed. Thought it looked positive.
However, BNPL generally has been on the slide and fallen out of favour, so I wasn't interested.

But what I have noticed, there may be a revival of sorts going on of late, as I have noticed a few random events lately that may indicate a general turn around. Still too early to tell yet though.

 

[Dona Ferentes]

Openpay has decided to pause its existing US operations indefinitely and cease loan originations on the Opy USA platform, meaning its US workforce will be materially reduced.

The company attributed the decision to “the current macroeconomic and public market conditions, together with the likely ongoing capital investment required in the US to fund its progress for an extended period”.

Openpay had appointed investment bank Keefe, Bruyette & Woods (KBW) as corporate advisers to assist with the search for potential investors for the company’s US operations.

The company said it had had advanced discussions with several interested parties for a transaction to provide direct investment into Openpay’s existing US operations, but that it ultimately decided to pause its US operations.

“Openpay believes that available capital and funding are best allocated to the Australian business given its continued strong growth, market-leading margins and unique market positioning,” the company said.

- shrinking to greatness (or irrelevance)?

 

[tech/a]

Re invigorated!

 

[Dona Ferentes]

Re invigorated!

Deinvigorated.

Openpay has closed for business and its shares have been suspended from trading while receivers determine who will get paid back their money, as higher interest rates strike the once-hot BNPL sector.

Can't attract funding

 

[waterbottle]

Here we go...

OPY gone.
ZIP fast running out of money.

The system is beginning to strain.

Courtesy of the AFR

The company was using its own proprietary technology to assess credit, but it was unable to contain operating costs as retail sales softened.

Mr Kogan said the receivers have been contacted by a broad range of parties, including other fintech lenders, to express interest in the technology and other assets.

Its shares remain suspended at 20¢, having fallen from a record high of $4.70 in August 2020.