OVT - Ovanti Limited

[barney]

IOU announces a $50 million placement to fund expansion. Details to come.

I guess you have to give Management credit. 6 months ago the Stock was trading at 5 cents and struggling.

The same Cap Raise back then would have grossed them $5 million. They now have $50 million to play with

 

[greggles]

I guess you have to give Management credit. 6 months ago the Stock was trading at 5 cents and struggling.

The same Cap Raise back then would have grossed them $5 million. They now have $50 million to play with

Agree barney. Very astute management to minimise dilution here. They knew to hang on and not raise capital too early, unlike many companies I could name.

I can't say what IOU's prospects are like, but management have done a bang up job with this capital raising. If, as I suspect, Afterpay's financial results that are due to be released on 25 February will fall short of expectations, then the whole BNPL sector will suffer and this capital raising will seem even more like a masterstroke than it does today.

 

[Dark1975]

Consolidating nicely
pls note : i do hold these shares , Pls Dyor

 

[TechnoCap]

Consolidating nicely
pls note : i do hold these shares , Pls Dyor

thoughts after today @Dark1975
looking pretty ordinary to say at best

 

[Dark1975]

thoughts after today @Dark1975
looking pretty ordinary to say at best

Agreed !
I sold my postion last week, Took a 7% Loss , Volume has disappeared / its trend lines had changed /ema, From a technical a series of lower highs,accending downwards. Fintech in general has cycled out, if the price drops below 30's it may entice me again,
I do like this fintech for the future,
But @ the current timeframe i see lower prices in the short term.

 

[Padowan]

Hoping the trend over the last month continues through September

 

[Padowan]

OK, The company is in a trading halt pending an acquisition

I'm not holding my breadth for the September monthly competition as a result

 

[frugal.rock]

No news, volume on the creep up. Caution required, but there may be a general reversal going on amongst (some?) BNPL stocks.
Too easy to tell, but probably a watch this space scenario.

 

[frugal.rock]

Caution required, but there may be a general reversal going on amongst (some?) BNPL stocks.

I would like to retract that statement. I think there is insufficient data to support that theory... my apologies.
Was based off OPY having a pop, OEC consolidating and IOU doing something... at least the subject stock is behaving...? ?
FWIW
OEC has a similar chart without the run up showing over the last few days on IOU chart.
For transparency, I don't hold any of 'em....?

 

[TechnoCap]

I would like to retract that statement. I think there is insufficient data to support that theory... my apologies.
Was based off OPY having a pop, OEC consolidating and IOU doing something... at least the subject stock is behaving...? ?
FWIW
OEC has a similar chart without the run up showing over the last few days on IOU chart.
For transparency, I don't hold any of 'em....?

View attachment 135783

Had a nibble at 9c so let’s see how quickly it reaches the moon or my stop loss

 

[greggles]

IOU in a trading halt pending a further announcement. The share price has run up from around 4c last Friday to a high of 11c today. Very clearly something has been leaked to the market. Volume started kick up a little last Thursday but there was still plenty of supply so the price didn't move that much. By yesterday whatever had leaked must have spread further as both volume and share price fired up.

IOU is a BNPL stock, so sentiment is working against it, but given the price action today and yesterday the forthcoming announcement would appear to be positive rather than negative news.

 

[greggles]

IOU up another 25% today. I'm not sure that I find the below explanation particularly convincing, but that is just my gut telling me that there is something else driving this unexpected rally.

No, the Company is not aware of any explanation for the increased securities price. However, it is the view of the Board that shareholders may be price-factoring in the recent ASX announcement from the Company dated 1 July 2022 where the appointment of the new Independent Non-Executive Chairman was announced.

This announcement, further to other recent market announcements, is likely to have been recognised by shareholders as being value accretive to IOUpay Limited Shareholders, leading to the trading activity.

 

[Dona Ferentes]

and a bit of short covering, perhaps

 

[Austwide]

I notice ZIP and FFG have both risen 15% or so in the last week, Is the BNPL sector making a comeback?

 

[galumay]

I think its largely due to passive flows thanks to the utter stupidity of BNPL being now included in the tech index. Should be a short lived rally before sanity prevails.

 

[Dona Ferentes]

I notice ZIP and FFG have both risen 15% or so in the last week, Is the BNPL sector making a comeback?

And SZL up 34%, SPT up 21%, OPY up 18%. Even SQ2 closing in on $100

I think its largely due to passive flows thanks to the utter stupidity of BNPL being now included in the tech index. Should be a short lived rally before sanity prevails.

!00%

 

[rcw1]

Good morning
Trading halt (14/03/22) pending an announcement ...
Not holding

Kind regards
rcw1

 

[galumay]

Should be interesting since they sacked the CFO yesterday!

 

[greggles]

Should be interesting since they sacked the CFO yesterday!

"Interesting" is definitely a good word to describe it. But now "dead" is perhaps a more apt description. What a colossal mess. ASIC will no doubt be poking their noses into this decomposing corporate corpse.

 

[galumay]

Its a story worth reading, just hope no one here had capital in this joke of a business, the nonsense of trying to play into the narrative speculation around BNPL should have put anyone off. Another business pumped by one of the worst performing and dodgiest micro cap fund managers out there. In my naive stupidity I bought his misplaced conviction, ended up escaping with most of my capital but learnt a good lesson.