Wisr (ASX:WZR) share price remains flat despite positive update

This ASX company is set to increase its brand awareness.

| More on:
bored man looking at his iMac

Image source: Getty Images

The Wisr Ltd (ASX: WZR) share price is having an uneventful day despite announcing a positive update to the ASX today.

At the time of writing, the non-bank lender’s shares are unchanged at 28 cents apiece.

What did Wisr announce?

Investors appear mixed upon the company’s latest release, leaving Wisr shares flat during afternoon trade.

According to its statement, Wisr advised it has launched its first major national brand campaign, supporting its recent brand redesign.

The campaign title, ‘For your smart part’ aims to deliver a clear and simple message around improving financial wellness. This is in relation to engaging with the ‘smart part’ of the brain to make better personal financial decisions. The project is running across the entire company’s brand design, product and communication channels.

In addition, the refreshing of the new Wisr website that was updated in May has resonated strongly with consumers. The website integrates the full suite of products, tools and resources on the Wisr Financial Wellness platform.

The company also revealed that it will be a broadcast and digital sponsor at the Olympic Games Tokyo 2020 with Seven West Media Ltd (ASX: SWM). This gives unapparelled exposure to Australian households throughout the event.

Wisr CEO, Anthony Nantes commented:

There is no greater audience, or event, that delivers a better return on investment than the Olympic Games, with a huge reach into Australian homes, concentrated in a few action-packed weeks of high excitement and emotion. From a brand perspective, it offers a rare, ultra-impactful and cost-effective outcome, as we introduce millions of Australians to a smarter, fairer experience underpinned by a ground-breaking customer experience that improves financial wellness.

The release comes just days after Wisr announced it achieved 20 consecutive quarters of uninterrupted growth. For the fourth quarter, new loan originations jumped to $123 million, a 27% increase on Q3 FY21 ($97 million).

Wisr share price summary

Until recently, Wisr shares have moved sideways for most of the year. The company’s shares price spiked at the end of May to a 52-week high of 34 cents on positive investor sentiment. However, since then, profit-taking has occurred, leading its shares to fall back to early May levels.

Wisr commands a market capitalisation of roughly $375 million, with approximately 1.3 billion shares on its registry.

Should you invest $1,000 in Wisr right now?

Before you consider Wisr, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Wisr wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News