Most recently on Ondo InsurTech (ONDO), last month I questioned with the shares down at 3.65p comparing to 15p just the prior month, does a vendor loan note restructuring really meaningfully strengthen its financial position and concluded still currently sell. Now a “Proposed Refinancing & Equity Fundraise”.
Ondo InsurTech (ONDO) has announced a “Vendor Loan Note Restructuring”, with Executive Chairman “Mark Wood CBE” stating including “the rescheduling to September 2028 meaningfully strengthens our financial position… we appreciate HomeServe’s ongoing confidence in our future”. So what about the shares actually slightly down at 3.65p and comparing to 15p just last month?
After yesterday’s article a couple of folks emailed to suggest that bottom fishing might pay off at Ondo Insurtech (ONDO). I would not be tempted and here’s why.
This is a bargepole stock as yesterday’s numbers showed. It could well end up gigging with the Fat Lady or at best, there is a massively dilutive discounted placing on the way. Let me explain
Describing itself as “a leading provider of claims prevention technology for home insurers” Ondo InsurTech (ONDO) has issued an “Extends Contract with Selective Insurance” announcement following last month “U.S. Contract Win” and “Alm. Brand Group to roll out LeakBot” announcements. Are these more reflective of good trading momentum or attempted ramptastic?
Most recently on self-described “leader in claims prevention technology for home insurers” Ondo InsurTech (ONDO), in September with the shares down towards 29p I wrote ‘argues “sets the stage for continued success in the months to come”, but any bottom-line ‘success’?’, concluding to still avoid. The shares were recently above 30p, but what about now half-year results and “Placing and Subscription via ABB” announcements?
Describing itself as “a leader in claims prevention technology for home insurers”, Ondo InsurTech (ONDO) has issued an “AGM Statement” including that it has “continued to achieve meaningful progress” and concluding that “this ongoing momentum underscores the demand for our technology and sets the stage for continued success in the months to come”. So what about the shares currently responding towards 29p, 10% lower?
Describing itself as “a leading provider of claims prevention technology for home insurers”, Ondo InsurTech (ONDO) has issued “The Hanover to pilot LeakBot in the United States” and trading update announcements arguing that the scale-up of U.S. operations continues to progress positively. So what of a 32.5p share price in response, more than 7% lower?
