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OVT - Ovanti Limited

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LOL! I kept a parcel that I held in my personal portfolio, wishing I had kept the ones in my SMSF a bit longer!!

I can't believe they are finally worth more than I paid for them. Patience really is an investors greatest virtue.
 
Sold my other parcel in the personal portfolio yesterday, 13.5c which represents a 30% profit - took 4 years though!
It appears to be morphing into a BNPL Shitco so I lost any vestige of interest I had in the business.
 
On October 5th, 2020, iSentric Limited (ICU) changed its name and ASX code to IOUpay Limited (IOU).
 
Running hard and fast today. 150 million odd shares traded and a 40% share price gain. Currently trading at 21c, up from Friday's close of 15c.

70,130,035 shares were issued on 2 October for 15.8c. A lot of those are probably being dumped into the market today, but there appears to be plenty of eager buyers out there snapping them up.

Isn't this just another BNPL stock? Why the excitement today? Am I missing something?
 
Merchant & consumer apps, Indonesia expansion, and partnership tie ups still to come. 2021 IOU is looking good.
 
Incredible run recently for IOU, but I'm starting to think it's now overheated. There has been some good announcements recently but I'm wondering whether its run up from 15c to around 60c is based on fundamentals or just excessively positive BNPL sector sentiment.

As they say, "A rising tide lifts all boats", but I can't shake the feeling that the BNPL sector generally has run too far and has now disconnected from fundamentals and is now being fuelled by hype.

Afterpay's HY21 Results on 25 February will be interesting.
 
Yes a lot of movement, but I traded this 3 times this morning, before the trading halt,
Very volatile, but with market depth and momentum of 5min time frames , you can make very decent money , e.g the attachment
 

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Be careful people, a lot of pumping of this on social media over the last few days.
 
galumay said:
Be careful people, a lot of pumping of this on social media over the last few days.
Click to expand...

Yeah was about to throw some caution into the mix as well G.

Always happy to see other punters have a win @Dark1975 so well done for that. Not directed at you, but just a general caution for anyone chasing "Runners"

If the substance behind why they are running is unclear, just be careful you don't get caught in a Trading Halt/Trading Suspension when you least expect it, and get left holding a very expensive baby!

I got caught very early in my "punting/trading" exploits and lost a very (very) large 5 figure sum when my "runner" came out of Trading Suspension 50-60% down, followed by another 50-60% down the day after.

The moral of the story: Chasing fast movers is fine, just don't put it all on Black cause it can easily turn to Red
 
Looks pretty crazy doesn't it. Wouldn't want to be left without a chair. How much is the BNPL deal worth?

 
You refer me in this reply as a "punter" lol,
I've been day trading for 20years ,
I agree I don't want to ramp this thread, or give any financial advice,
This current stock looks very volatile indeed, and would not say to buy this stock,
Please note: I suggest this stock looked good on depth previous Friday? Which was before the run,
As of 20mins ago the depth and momentum has changed dramatically, I would tread lightly here,
As for me I chopped it up two more times ?
Pls DYOR , and please seek financial advice before purchasing spec stock.Gg
 

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Punter is a term of endearment in my world Dark. Definitely not trying to undermine your experience.

To the contrary, I noted your assessment of this one on Friday with an appropriate "like" so well done on the win.

Just trying to warn any "unsuspecting/new" Traders not to chase these types of moves with excessive money they can't afford to lose, just in case the black swan? (red rooster in this case) pays a visit

Cheers M8.
 
Austwide said:
5 mins later and its at 80 cents
Tons of hype on facebook etc.

As you say @greggles the APT results if not good may reset the sector.
Click to expand...

Looks like IOU is planning to take advantage of its soaring share price to raise some capital. Trading halt announced this morning.


The cynic in me might question the timing of this announcement as being conveniently slotted in nine days before Afterpay's HY21 Financial Results are due to be announced. But hey, might as well take advantage of a soaring share price to minimise dilution. Who can blame them?

However, I certainly wouldn't be getting into IOU at or near current prices. I think the BNPL sector is in for a very interesting 2021.
 
IOU announces a $50 million placement to fund expansion. Details to come.
 
100,000,000 million shares are being issued at 50c, a 15.06% premium to the 15 day VWAP.

Fund raised will be used for:

IOU says that there was strong demand for the placement, far exceeding the placement limit agreed by the Company.
 
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