Connect with us


Why the IOUpay (ASX:IOU) share price crashed 13% lower today



It was another very disappointing day of trade for the IOUpay Ltd (ASX: IOU) share price on Monday.

The Malaysia-based buy now pay later (BNPL) provider’s shares ended the day 13% lower at 53.5 cents.

This means the IOUpay share price has now fallen 37% since peaking at a record high of 85 cents last Monday.

Why is the IOUpay share price under pressure?

Investors have been selling IOUpay’s shares since its surprise and opportunistic $50 million placement last week.

The placement saw sophisticated and institutional investors offered 100 million shares at 50 cents per share. This represented a 28.6% discount to its last close price at the time of 70 cents.

According to the release, the proceeds will be used for growth initiatives…

Click here to view the original article.

Continue Reading

You might also like ...

Why Limeade (ASX:LME) shares are bouncing around today
What’s with the Douugh (ASX:DOU) share price today?