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ASX closed red; Humm hit by Forum Finance fraud; oOh!Media set to sell Junkee

ASX200 closed 0.93% lower on Friday at 7273.30.

Payright rallied 7.4% on new partnership deal with Mint Payments.

oOH!Media plunged on reports of Junkee Media sale. 

The Australian market closed 0.93% lower on Friday at 7273.30 as a tech selloff led losses on the key index, while all sectors aside from Energy stocks closed the day in negative territory. For the week the ASX lost 0.48%.

Afterpay took the biggest hit on the tech sector today, finishing the session just shy of 5% lower, while NEXTDC fell 4.11% and Nearmap lost 3.45%. 

Bitcoin is relatively flat this afternoon, down 0.89% at US$32,905.41 at 5:00pm AEST.

Shares in BNPL provider Humm fell today after the financial services company revealed that it possibly had historic exposure to Forum Finance, a company currently caught up in fraud allegations. Humm’s potential exposure came in the form of its decommissioned Flexigroup managed services business between 2016 and 2018.

Making headlines, shares in oOh!Media also fell today following reports the advertising company is set to sell its online youth publication, Junkee Media, by the end of 2021, in a bid for the company to focus on its core advertising business. 

And a TikTok user has gone viral with a McDonald’s hack by ordering all three thick shake flavours vanilla, strawberry and chocolate and a spare cup before combining segments of each into the one cup and making a neapolitan flavour thick shake, like the iconic Peters ice cream tub.


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