Member Info for HorisM

West African Population: 443,294,333

Nigeria received remittances valued at an estimated 20.1 billion U.S. dollars in 2022.

Senegal followed, with total remittances of 2.5 billion U.S. dollars.

Economic Community of West African States (ECOWAS) reiterated its commitment to launch the common Eco currency by 2027

https://maroc-diplomatique.net/la-cedeao-reitere-son-engagement-a-lancer-une-monnaie-commune-dici-2027/

Once they have gathered any freefloat on the backend they will send into their clients in large bundles.

However, I expect that the big fish (Blackrock et al), that already had 5% holding will simply buy up another 5% to average down and put this share in the back pocket.

Please see my previous posts about Africa and why Cab will become a leader in the region.

Would expect this to be over 400 next year once the African countries drop the FRANC for more autonomy.

The challenge here is that PI are missing the tricky and massive growth area of this company: Africa.

They saw the revenue report and look at the news within a timeframe of weeks/months, when the real way to view this company and their services is years.

please see my previous posts on Africa and the following to understand the massive market in this space growing:

https://www.premiumtimesng.com/news/top-news/589928-central-african-countries-want-to-dump-colonial-currency.html

https://www.un.org/africarenewal/magazine/november-2021/new-pan-african-payments-system-provides-big-relief-african-traders

https://www.imf.org/external/pubs/ft/fandd/2021/06/future-of-west-africa-currency-union-prasad-songwe.htm

https://www.peerbits.com/blog/west-africa-paradise-for-digital-payments-mobile-finance.htm

Doesnt appear to be a large seller.

It looks like funds are using autos to hammer down the price.

and yesterday and today, we have more buyers than sells.

MM/Fund manipulation to squeeze the juice.

Considering so many companies are going EOL, and currencies are going to be here for a long time, the smart money is trying to dredge all the cheap shares for a long term massive profit.

Please see my other posts about Africa and the new currencies and FX needs.

Actually, this is more of a golden opportunity than I first realised, explains why the brokers were increasing their targets to 450 region only a month or so ago.

So basically, more money moving around, more currencies coming into play, and remittances:

"By the end of the year 2017, there were a total of 176 million unique subscribers in the region.

This number is estimated to go up to 248 million subscribers by the year 2025, which will be 54% of the total population..

After the completion of 18 months after the launch, it has already reached an impressive 24.7% of the total value of remittances among the three countries."

https://www.peerbits.com/blog/west-africa-paradise-for-digital-payments-mobile-finance.html

Cabs position in Africa is going to be very lucrative with the ending of the CFA Franc.

Eight countries in the West African Monetary Union (UEMOA) Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo launched a reform process.

They announced the renaming of the CFA Franc to Eco.

In addition, French members were to withdraw from the supervisory body of the UEMOA. Furthermore, West African states would no longer have to deposit half of their reserves in the French treasury.

Lots of extra FX and currency trading = more profits. And CAB now has lots of new partners in the region coming online.

Another day of more

Them coming through:

24-Oct-23 17:26:50 60.12 930,000 Unknown* 61.80 62.00 559.12k O

Also people need to keep in mind, that due to so many shares being down, that available cash to buy stuff when opportunities like this happen are delayed, the funds are having to free up cash and sell over stocks to move the cash around.

The market has over reacted, and with west africa kicking the french out, a whole new market is opening which Cab is opening.

I would expect blackrock, and JP morgan to increase their holdings, as there is a more to payment systems outside of legacy systems as noted in the RNS.

Also Cab signed 74 new clients, and these are in the process of being activated.

even if this rerates to 90 tomorrow it will still be undervalued.

After hours trading should be interesting

Any shares sneezing the past year has seen the craziest drops.

company is in a great position, and they have 74 clients, new tech, and opening USA office.

sellers today are mental, and once the MM have finished their games of squeezing the lemon this will move back up fast.

The big fund that have holdings from before today will be the ones sweating bullets with the 70% drops, considering how bad the market has been for the past year.

They will be averaging down like mad to get an even boat.

All the shares are being bought up on the back end and sold as bundles.

they should soon be stuck and the price will move up as orders are filled with supply and demand.

tons of upside, and no real major sells left.

Looking good today:

# Trades 3,520

Vol. Sold 2,632,486

Sold Value £1.62m

Vol. Bought 6,676,525

Bought Value £4.13m

These are showing as Buys on Yahoo Finance:

24-Oct-23 12:15:58 55.00 1,450,000 Unknown* 61.50 62.00 797.50k O

24-Oct-23 12:15:50 55.00 1,324,848 Unknown* 61.50 61.80 728.67k O

This is were there will be an aggressive buying session now to get the shares before they run north too quickly

Shares bought up today being sold to buyers in bundles - big rerate coming

Its formed a stable bottom, does not appear to be any material sellers left, and about 200% upside from here

I would expect the large volume of sellers was pre-IPO holders.

Sell at an 80% discount is insane.

However the big players know that this is a market where you can trash a share on a slight breeze

No material sellers left. And once the cheap shares that have been gathered are bundle sold this will jump up.

Imagine there are some funds rather annoyed at the drop that will be get aggressive with buying if the MM try another drop tactic.