RE: Mode bear case10 Mar 2021 13:16
I, for one, welcome your critique, Jimbo. It's great to hear an opposing view because it gives us a chance to test our own assumptions and biases.
What I'm interpreting in your post is that the Chairman hasn't got a 100% record. Okay, so I'll explore the quality of the executive team of the company since they're the ones devising and executing the strategy. Are they any good ? And, while we're about it, the Chairman has presumably made many good business connections and learned from their experiences in highly relevant industries (dotcom, SME banking, etc). Often failing is a powerful force for improvement. It's also a critical ingredient of innovation.
MODE offers low interest compared to competitors. If this was their USP then I'd be worried. But I gather MODE plans to compete on several areas, the key one being the integration of all a consumer's financial assets and connects those assets to businesses selling products and services. So, in a word: Convenience.
Uptake of the app is not stellar (175th in Finance). Okay, I'm not going to waste time checking the veracity and comparing Andriod to iPhone, etc . And frankly I don't have sufficient specialist knowledge in this aspect to either argue or agree with you. The download numbers are being published soon, aren't they ? Do we have any thoughts about expectations ? I'd welcome others' specialist input here.
Now I'm with you, Jumbo. 100% ramping is nonsense that ends in massive disappointment. I've openly admitted here before that I bought at the exact wrong moment and find myself 30% down. Worried ? No. It's early days in trading for MODE. There's a way ahead in the journey.