Insights

Dough (ASX:DOU) share price surges another 43% on Wednesday. Here’s why

Douugh shareholders have been jumping for joy this week…
The post Dough (ASX:DOU) share price surges another 43% on Wednesday. Here’s why appeared first on The Motley Fool Australia. –

The Douugh Ltd (ASX: DOU) share price raced to a 5-month high following major gains over the last two days.

At Wednesday’s closing bell, the financial wellness app provider’s shares finished the day up 42.8% to 11 cents apiece. This means that in the past week alone, the Dough share price has accelerated more than 50% higher.

Record growth in October

In the hours before yesterday’s market open, Douugh released a positive trading update to the ASX.

The company highlighted record growth across its key platform metrics for the month of October. This was underpinned by targeted marketing activities and the launch of its in-app member-get-member-service (MGM).

As a result, the United States customer base increased by 42% month-on-month, with US revenue up 53% month-on-month. The introduction of the company’s new monthly subscription fee for new users helped boost revenue. Douugh said it was focused on continuing new app improvements to achieve higher activation rates and expand the share of wallet feature.

Total customers on the Douugh platform jumped to 63,162 users, which represents a lift of 26% on the prior month.

In addition, accumulated customer deposits rose to $15.5 million, up 25% month-on-month.

Total debit card spend on the platform leaped to $6.6 million, a 26% jump on September’s figures.

Douugh founder and CEO, Andy Taylor commented:

Our focus continues to be on improving activation rates and the winning of salary deposits to dramatically increase ARPU.

The paycheck is the catalyst of our flywheel and maximising the revenue opportunity in front of us. Therefore, investing in the brand and building trust with the user base is essential.

About the Douugh share price

Despite today’s gains, the Douugh share price has fallen by more than 60% over the past 12 months. Year-to-date, its shares are hovering around 35% below the January 1 level.

Based on the current share price, Douugh commands a market capitalisation of roughly $47.64 million.

The post Dough (ASX:DOU) share price surges another 43% on Wednesday. Here’s why appeared first on The Motley Fool Australia.

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

Before you consider Douugh, 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 Douugh 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

More reading

Douugh (ASX:DOU) share price rises 16% on soaring number of US users

Douugh (ASX:DOU) share price rockets 18% on crypto update

Here’s why the Douugh (ASX:DOU) share price is rocketing 18% today

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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!