• Using the Opera browser? Here’s something you need to consider

    Posted on January 17, 2020 at 06:36 CST by • Comment in the Forums

    I knew that Opera was having problems — but not these kinds of problems.

    Per Steve Symington at the Motley Fool:

    Shares of Opera (NASDAQ:OPRA) were down 17.4% as of 3:30 p.m. EST on Thursday as the software company fell into the crosshairs of a noted short-seller. In a new report published this morning, ominously named short-selling firm Hindenburg Research argued that Opera should be trading closer to $2.60 per share — a 70% discount from Wednesday’s close at around $9.  For perspective, Opera shares had already fallen nearly 25% from the company’s initial public offering in July 2018 at $12 per share — a price Hindenburg Research says was largely justified by the since-scuttled growth prospects for Opera’s web browser.

    No, I don’t know Hindenburg research, and I have no insight to their allegations. But this just strains my imagination:

    With its browser business in decline, cash flow deteriorating (and balance sheet cash finding its way into management’s hands…more on this later), Opera has decided to embark on a dramatic business pivot: predatory short-term lending in Africa and Asia.

    If you’re relying on Opera, you’d be well advise to find another pony.

    Thx, @SimonZerafa.

    Other
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