After plenty of talk and planning, Douugh Ltd [ASX:DOU] shares have finally unveiled the new and improved ‘Goodments’, an investing app designed to give aspiring traders access to US stocks at minimal cost.
A project that the neobank has been working on since acquiring Goodments back in January.
And now that it’s ready and raring to go, Douugh can now move onto their much broader goal. Which is to ultimately launch the Douugh banking app in the near future.
But let’s not get too ahead of ourselves.
After all, today’s Goodments launch is an exciting development on its own. Sending DOU Share Price of this tiny stock rising by 9%…
Brokerage-free investing is a go
As we’ve discussed previously here at Money Morning, Douugh has made its intentions clear for this rebrand of Goodments. Something that they’ve been preparing for via other agreements, which you can read about here.
It’s clear that they’re hoping to tap into the surging interest in investing. Particularly from younger demographics who have come into the spotlight recently.
In this regard, Douugh has no doubt been working hard to get this app ready. Looking to capitalise on the trend while it’s still hot. And with a fairly compelling offering — over 4,000 US stocks to choose from, with no brokerage fee — it could be poised to become a smash hit.
As CEO Andy Taylor comments:
‘Young people realise buying property is becoming increasingly difficult, so they are turning to shares to make their money work harder and save to secure their futures,
‘It’s driving demand for wealth creation platforms like Goodments to simplify buying and selling shares, making it easy to get involved, easy to use and low cost. All the while being able to get exposure to the biggest global disruptive brands they know and love that are changing the world,’
And as mentioned earlier, this is simply the precursor to Douugh’s anticipated banking app, which the company is hoping to launch next year, with 10,000 Aussies already signed up to the waitlist.
So it’s all steam ahead for this ambitious fintech up-and-comer.
What’s next for the Douugh Share Price?
With the Goodments relaunch now done and dusted, the focus for management will certainly be user growth.
It’s not enough to simply have the app out in the wild. They need to ensure they’re doing everything they can to attract more downloads and more investors. All of which will help build their prowess and fintech capabilities.
It’s simply a matter of how fast or slow they can maintain user adoption.
And that is what shareholders will want to keep an eye on. Because while revenues and cash flow are certainly important, user growth is likely going to be the key metric for Douugh for the foreseeable future.
Just as it is for most early-stage fintech companies…
You can learn all about these key opportunities in our comprehensive fintech stock report. Which includes three of our top picks from the ASX. Check it out for yourself, for free, right here.
Regards,
Ryan Clarkson-Ledward,
For Money Morning
PS: The Next Afterpay? Discover three promising Aussie fintechs that are currently trading below $1. Click here to learn more.
