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The Motley Fool Australia »Stock Market News» IOUpay share price (ASX: IOU) surge of 98% triggers a speeding ticket

Mitchell Lawler | 15th February 2021 2:09 pm | More on: IOU

Shares in Malaysia-based provider IOUpay Ltd (ASX: IOU) Buy Today, Pay Later (BNPL) were temporarily suspended this morning, after the price of IOUpay stock rose nearly 98% in early trading. had risen to an intraday high of 85 cents

In less than an hour of trading, IOUpay shares with a volume of over 62 million USD traded This sales level is more than double the monthly average volume of the company. As a result, the figurative eyebrows of the ASX have been raised

IOUpay shares have been suspended from trading by the ASX this morning due to the company’s unusual rise in price. The ASX issued a price query, colloquially known as a “speeding ticket,” to the company, to which it promptly responded, IOUpay said that he is not aware of any information that could explain today’s rise in the share price

The price of IOUpay shares has increased since the announcement of the partnership with EasyStore to provide BNPL services on Jan. February dropped sharply This means that IOUpay’s BNPL payment option will be integrated into EasyStore’s e-commerce platform

For those not sure what EasyStore is – it’s a Shopify-like offering in Southeast Asia, the multi-channel online offering allows it over 7000 merchants selling products digitally. The company has been operating since 2013 and now has offices in Malaysia, Singapore, Indonesia, the Philippines, Thailand, Hong Kong and Taiwan

BNPL Sector Continues to Draw Much Excitement at ASX IOUpay now operates among BNPL giants like Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) In fact, IOUpay referred to these two companies in its response to the ASX, as can be seen from the response letter, IOUpay stated the following:

This continued expansion of the company into the BNPL sector, as well as its existing interests in mobile and mobile payment, should have been recognized by shareholders as adding value to IOUpay Limited shareholders due to the recent other BNPL market relative to the market performance of the participants in this was recently shown due to material price and value increases in companies such as Afterpay … and ZIP Co …

Make sure you have your socks on securely for this one … IOUpay stock price has hit a staggering 8 in the past 12 months955% returned The company’s shares have now been traded again and are currently priced at 75 cents per share. This is more than three times the price of 22 cents on Wednesday last week

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Mitchell Lawler owns shares in AFTERPAY T FPO The parent company of Motley Fool Australia, Motley Fool Holdings Inc owns shares in and recommends Shopify, the parent company of Motley Fool Australia, Motley Fool Holdings Inc owns shares in ZIPCOLTD FPO The Motley Fool Australia owns shares in AFTERPAY T FPO The Motley Fool has a disclosure policy This article provides general investment advice only (under AFSL 400691) Authorized by Bruce Jackson

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World News – AU – 98% rise in IOUpay share price (ASX: IOU) trigger over speeding