It seems to be within what's normal lately, IMO. What did happen was that we broke out of last week's range, but fairly quickly reverted back inside. So, essentially an initial false breakout on higher time frames. No follow through below though and we're still in the green on the day.
You think we'll trade that far? I don't think so, but we've come this far, so who the hell knows. 3100/3130 seems given, though.
I saw a good penny stock for you earlier btw, Oz stock. They bought a U.S. "buy now pay later" operation called QuadPay Inc. The company trades on the ASX... Zip Co Ltd is its name. Might be worth a look. edit: here ya go https://tinyurl.com/yacvw64y
Hehehe, too late, I have been in an out a couple if times over the last several weeks on Z1P, currently holding, up 60% in 2 weeks. Since March this year, my trading has been the best ever for fast high returns, currently holding about 46 positions, wanted to buy OPY yesterday morning but my cash buffer getting too low to safely buy any more positions.
Really! lol, thats funny. good deal Mick. Australia's Zip taps US market with buyout of buy-now-pay-later peer QuadPay Reuters Byron Kaye and Nikhil Nainan June 2, 2020 2:48 AM EDT Filed under PMN Business SYDNEY/BENGALURU — Australian buy-now-pay-later (BNPL) company Zip Co Ltd said it will buy New York rival QuadPay Inc in an all-share deal that values the target at $269 million, joining a rush of Australian companies to tap the world’s largest consumer market. The move pits Zip against larger Australian BNPL provider Afterpay Ltd, and others, in the U.S. consumer finance market which has boomed as younger shoppers seek low documentation alternatives to interest-charging credit cards. Under the elaborately-structured deal, Zip said it will give 119 million of its shares, or just under a quarter of the company, to owners of unlisted QuadPay for the 86% of the target it does not already own. Zip would issue the shares partly by giving a stake of itself to U.S. private equity firm Susquehanna International Group, in exchange for $200 million worth of derivative securities. The derivatives valued Zip shares at a hefty premium to their most recent close, and shares of the Australian company jumped 39% on Tuesday to be in line with the implied price of the private equity firm’s stake. “The funding structure is very complicated, however at face value it provides flexibility and upside for both ZIP and (Susquehanna), incentivises and locks in management, and funds further growth in the QuadPay business,” said RBC Capital Markets analyst Tim Piper in a client note. Zip CEO Larry Diamond said in a statement that the U.S. was “a critical part of our global strategy and vital as merchants increasingly look for a global payments solution.” QuadPay co-CEOs Adam Ezra and Brad Lindenberg said in a joint statement that “by combining Zip’s resources, geographic coverage, data capabilities, category leadership and experience, we look forward to driving strong growth together in North America and across core markets.” The combined company would have about 3.5 million customers and more than 26,000 merchants, with annual revenue of over A$250 million, Zip said, closing on Afterpay which claims about five million customers. Chinese internet giant Tencent Holdings Ltd recently bought 5% stake of Afterpay, propelling its shares higher, months after Ant Financial, an affiliate of Alibaba Group Holding Ltd, bought a stake of Swedish BNPL company Klarna Bank AB – which already counts Commonwealth Bank of Australia and rapper Snoop Dogg as backers.
When I see any ASX stocks with a heavy chinese influence, directors or shareholding, I blacklist from my buying watchlist, APT was added when Tencent bought in, my reasoning, China will attempt to fuck it up.