Why Opera (OPRA) the Norwegian web browser shares popped 30% this week?

Is the share price gain in Opera sustainable?

The forgotten web browser, Opera, traded under the stock symbol (OPRA) shares rose this past week from near $9 to close at $12.84 this week. What caused this move? And is this 30% move sustainable?

ABOUT OPERA

Opera was founded in 1995 in Norway on the idea that everyone would browse the web on any device.

https://www.opera.com/about

Opera is a web and mobile based browser that has been around since the early beginnings of the Internet. Besides the web browsing business, Opera also operates a news aggregation business known as Opera News.

In January 2021 Opera announced it was buying YOYO Games for an estimated 10 million. YOYO Games is a cross platform game development technology that runs across multiple platforms such as Android, iOS, PS4, Xbox One, and Windows to name a few. Building on top of December’s 2020 news that Opera had increased their Daily Active Users (DAU’s) 20% over 2020. Opera continues to gain traction in the mobile and web based browser business by their VPN feature which is gaining in popularity as users are wanting more privacy protection.

Where Does Opera’s Stock Price Go From Here?

Opera had their IPO in July 2018, since then the share price has gone sideways the past two years, topping out twice around $13.50 before retreating downward. If Opera can trade above $14 per share, the skies are clear. There is no resistance above this price point and we believe the next few weeks will be telling. A few bright spots for those investors looking at Opera is it seems to run a tight ship, the business is profitable and has increased it’s Annual Revenue in 2016 from 107M to 335M in 2019. As with most tech companies, the GAAP and non-GAAP earnings are volatile. We see several catalysts for Opera in the future as it continues to diversify it’s business and protects users’ privacy, we believe the party is just getting started. BULLISH

Wall Street Chronicle’s Editors have no current position in Opera but can do so at anytime.

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