We think Opera collapses on its own worsening financials, with that timeline accelerating significantly if Google bans its lending apps or if its Chairman/CEO continues to draw cash out of the business through questionable related-party deals.
They basically pivoted into a very shady mobile lending business. So sad to read.
Although, on the investor.opera.com you are greeted with this:
The Company is aware of and has carefully reviewed the report published by the short seller on January 16, 2020. The Company believes that the report contains numerous errors, unsubstantiated statements, and misleading conclusions and interpretations regarding the business of and events relating to the Company.
Update: Arjan from Opera writes:
That’s because it’s not true: this is an attempt to drive down the stock price and make money from short selling (successfully). Many screenshots in this report are fake, and numbers are manipulated or made up. More will come later. Keep checking sources.— Arjan van Leeuwen (@avl7771) January 18, 2020
Sounds like there’s something fishy on the reporting. Shouldn’t have posted without reading more.