Why Wisr Ltd Share Price has Skyrocketed Only to Plummet Today

Shares of Wisr Ltd [ASX:WZR] skyrocketed in the last month. Trading $0.02 at 13 July, but by 30 WZR’s share price had skyrocketed to $0.06 — an increase of 199.99%!

But today the share price of WZR has plummeted by 11.67%

WZR is Australia’s first ASX listed marketplace lender.

Why did Wisr Ltd Share Price Plummet?

Following talks of changes in price in securities of Wisr ltd, the company has released responses to multiple query letters from the ASX over the surging share price.

Frankly, there is no single, obvious reason for the recent change in price of Wisr shares. But the company has highlighted the positive operational information released to the market in the past few weeks, as well as the recent non-deal with Roadshow, which could be causing greater interest in Wisr.

That latest news could be behind the sudden drop in share price today.

But in early financial year 2017. the company did refocus their business. This has already seen an annual loan origination growth of 410%, making it the fastest growing lender in this category.

Investors must also consider the recent $25 million wholesale loan funding agreement between Wisr, Bendigo and Adelaide bank.

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What’s in store for Wisr ltd

WZR will continue to work towards providing responsible lending, with a five year track record in marketplace lending. They are also committed to building products, apps, services and investment outcomes across their all areas.

Chief Executive Officer Anthony Nantes stated:

Wisr continues to deliver innovative technology solutions that provides investors with access to an outstanding asset class. We are excited to complete this agreement with a company which has the history, knowledge and capability of Bendigo and Adelaide bank, as we continue to grow and target more opportunities.

The Bendigo and Adelaide bank facility to fund consumer loans to be originated and serviced by Wisr will become operational in coming weeks.


Ryan Clarkson-Ledward,
For money morning

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Ryan Clarkson-Ledward is an Editor at Money Morning.

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