Hey there,
Not sure if you caught our coverage on the IPO previously. You can check out our thoughts below:
https://www.stocktrades.ca/premium/payfare-files-for-ipo-on-tsx/
https://www.stocktrades.ca/premium/payfare-prices-its-ipo-to-begin-trading-on-friday-march-19/
It's only been a month since they listed but there have been a few developments. They released a corporate update in which they stated that active user count grey by 54% from the end of December 2020 to the end of February 2021. It also increased its gross dollar value loads (GDV) by 53% from the end of December 2020 to the end of February 2021.
They also rolled out the DoorDash DasherDirect nationwide in March and is now debt free after using proceeds from its offering to pay down debt. The company is tarding at 28 times sales (which isn't cheap) but certainly has potential. We do like the fact it is an industry disruptor, and think it has decent upside assuming it can maintain its pace of growth. It will however, likely be be highly volatile.
Mat