Wisr Share Price Gets Its Wings Back (ASX:WZR)

By ,

At the time of writing, the Wisr Ltd [ASX:WZR] share price is up dramatically, up over 25% to 19 cents. The fintech lender had seen a large fall in its stock price with the emergence of COVID-19. Losing over 80% of its stock price.

ASX WZR Share Price Chart - Wisr Shares ASX

Source: Optuma

Download now: Three ASX fintech stocks taking on the banks (and winning)

What’s been happening with Wisr share price

Like the rest of the market, the Wisr share price experienced a significant decline with the emergence of the novel coronavirus.

Wisr, being a non-traditional lending company, was perhaps able to adjust more quickly to the shutdown that the virus caused.

In March 2020, Wisr staff held a successful test of their work from home abilities, managing to complete a record number of loan originations, without a single staff member in the office.

Wisr CEO Anthony Nantes said:

Whilst the Australian economic outlook has changed, Wisr is very strongly capitalised, with a business model able to rapidly adjust to changes in economic outlook. We are writing prime quality credit, which historically performs well through a credit cycle.

RIP Commonwealth Bank? The Aussie fintech stealing CBA’s credit card profits.

The WZR Share Price Moving Forward

16 June 2020 saw an announcement from the company outlining their rapid response to COVID-19 conditions, and exceptionally low exposure to high-risk COVID-19 sectors.

More remarkably, new loan originations grew 48% in May 2020, compared to April 2020.

Customer support requests have also returned to pre-COVID-19 levels.

It was also noted that the month of May saw a record amount of total weekly settled loans, going over $4 million for the first time ever, all while employees worked from home.

Wisr Share Price Chart 2 - ASX WZR

Source: Optuma

Looking at the chart you can see the Wisr share price rocketed over 200% up from the low set in March of six cents, to the current price at the time of writing of 19 cents. Should this continue, the next natural resistance level of 21 cents may come into focus.

Should the Wisr share price turn to the downside, then the levels of 17 and 15 cents may come into play.

Fintech and the companies pushing the big banks to their limits are a frequent topic in our daily e-letter. In it, we also talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here.


Carl Wittkopp,
For Money Morning


About Carl Wittkopp

Carl Wittkopp writes for Money Morning and has a diploma in Financial Planning. He specialises in technical analysis.

Wisr Share Price: $55 Million Capital Raise Announced (ASX:WZR)

Wisr [ASX:WZR] is set to raise $55 million to grow its loan book, with $77.1 million loans originated in the first two months of Q4 FY21.

Wisr Share Price: Fintech Flags Capital Raise (ASX:WZR)

The Wisr Ltd [ASX:WZR] share price entered a trading halt today pending a capital raise via an institutional placement. Before the halt, Wisr shares were trading for 32 cents a share

Wisr Share Price Up, Latest ABS Announcement Explained (ASX:WZR)

At time of writing, the share price of Wisr [ASX:WZR] share price is up more than 1% after a strong run, trading at 27.5 cents.

Wisr Share Price up on 19th Quarter of Growth (ASX:WZR)

The Wisr Ltd [ASX:WZR] share price is up more than 4% trading at 23.5 cents. The WZR share price is threatening to break out of a range that dates back to September…

Wisr Limited Share Price Flat on Results [ASX:WZR]

At time of writing the Wisr Ltd [ASX:WZR] share price trades at 18.5 cents. In a recent announcement, the company recorded fantastic growth again.

Wisr Share Price Gets Boost from New Loan Numbers (ASX:WZR)

At time of writing, the share price of Wisr Ltd [ASX:WZR] is up more than 5%, trading at 20 cents. The WZR share price bounced sharply off of the March low, but is now trading sideways in a range..