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1st chance to digest today’s news this evening and it’s not brilliant is it? Merchandise store is a joke. Bitcoin jar decommissioned. We need more news on what the licenses mean in terms of future financial products. This is the first time I am genuinely concerned about the direction we are going.
So on the week when the payment app goes live and the OTC listing could possibly materialise, we once again see selling, this time because bitcoin takes a wobble. Which makes mode more money. Crazy. Whoever is buying at this discount must be laughing.
Looks like we’ve run out of sub 50p sellers. Anal (annual) accounts out of the way which was concerning some. Just a bombardment of updates on super app launch, merchants, OTC listing ahead. There will be many 5%+ days ahead, relax and watch this go £100m, £200m MC and so on.
Anyone selling off the back of the annual report? Time to buy, £450k revenue 2020, mostly final quarter and mostly bitcoin trading. Trading activity increased by 316% in first quarter 2021. Super app on the way, THG already on board, revenues will soar here in next 1-2 years. Far better results than I expected. It seems that some shareholders dont recognise the value of what they are invested in as selling into this. Total unicorn in the making.
At some point we run out of sellers daft enough to sell down here and get a more realistic valuation. MC should be >£100m. RNS shows that mode will be accepted by companies as a form of payment. The domino effect will ensue.
So here we are, 3 full weeks until end Q2, lots of news flow on the horizon, and sentiment hits rock bottom, with investors selling up, and shaking the pitchforks and torches at mode on Twitter. Even if app release is a couple weeks late, it will make sod all difference in the grand scheme of things. The show hasn’t even begun here. One merchant after another to sign up, Rita Liu helped onboard 300000 merchants to Alipay in Europe! They say the hardest part of investing is patience, doing nothing. This is what you get rewarded for.
Bitcoin has had its nosebleed. Shouldn’t have brought down mode with it anyway as transactions and revenues will have increased. Payment app launch around the corner, ridiculous potential if any half recognisable merchants onboard. Mode just need to deliver what has been promised and all the soundings in recent presentation/interviews and tweets suggest we are on course.
A few notes today. The correlation between bitcoin price and Mode SP is finally broken as investors look to payment app launch, or start to recognise that volatility is good for mode.
All talk of a ‘seller’ in the background was likely false. Just negative sentiment which is now turning positive.
Mode presenting at Crypto Conference and Webinar on Thursday should be interesting.
This share is primed for a rerate. +9% today on no news and normal volume. Yes, it was oversold but this could do 50-100% with a decent RNS eg merchants.
Mode are back into top 100 android downloads with the increased volatility. I know I was buying bitcoin and mode shares yesterday. The stampede for the exit has eased today. There can’t be too many weak hands left, and we’re nearly halfway through Q2 so the build up to payment app launch will kick in. It’s always darkest before the dawn.
You bought at a good time I would say. Into May now, news on merchants and super app launch within next 2 months, but could happen any day! If a FTSE100 company signs up we bag same day. Maybe smaller merchants initially but other companies will see the potential savings in payment fees, and the value in rewarding customers to build loyalty and will not want to miss out. Enjoy the BH weekend hodlers!