What is happening with the Douugh (ASX:DOU) share price?

The Douugh Ltd (ASX:DOU) share price has gone nowhere over the last couple of weeks. Here's why…

| More on:
questioning whether asx share price is a buy represented by man in red shirt scratching his head

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Douugh Ltd (ASX: DOU) share price won't be going anywhere on Tuesday after the fintech company requested yet another extension to its suspension.

What is happening with the Douugh share price?

On 21 December Douugh requested a trading halt pending the release of an announcement. This was in relation to the proposed acquisition of a millennial-focused investing company. The company's shares were due to return to trade within two days.

However, instead of returning to trade, on 23 December the company requested a voluntary suspension until 29 December. This was requested pending the release of the aforementioned announcement and also to give it time to "respond to an unrelated query put to it by the ASX."

Well, as you might have guessed, 29 December came and Douugh's shares failed to return to trade. Instead, the company requested a further extension to its voluntary suspension until today ­– 5 January.

But lo and behold, Douugh has now requested that its shares remain suspended until Friday 8 January.

Once again, Douugh explained: "The Company requests the voluntary suspension until after an announcement by the Company in relation to the proposed acquisition of a millennial-focused investing company. The Company will also respond to an unrelated query put to it by ASX."

What is the query?

Unfortunately, no details have been provided about the ASX query the company has received.

Though, all will eventually be revealed once its shares finally return to trade. But judging by the lengthy suspension, it appears to either be a complex query or Douugh's response has not been deemed sufficient by the ASX.

Shareholders will no doubt be hoping this doesn't turn into another iSignthis Ltd (ASX: ISX) situation. The controversial payments company's shares have been suspended for over a year now.

However, like iSignthis, there are a lot of question marks over the Douugh business. Particularly given how the company was marketing itself as a neobank for some time before acknowledging that it wasn't actually one.

At present, the company is one of a growing number of financial apps you can find on Apple's App Store. It remains unclear how many users the company has using its app at present.

Should you invest $1,000 in Betashares Global Cybersecurity Etf right now?

Before you buy Betashares Global Cybersecurity Etf shares, consider this:

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

The online investing service he’s run for over 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 may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro 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

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Share Market News

$10,000 invested in the ASX 200 5 years ago is now worth…

Guess how much $10,000 invested in the ASX 200 five years ago is worth today!

Read more »

Retired couple hugging and laughing.
Share Market News

Eyeing retirement: Do you really need $1 million?

AustralianSuper recently weighed in.

Read more »

Happy woman working on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a pleasant end to the trading week for investors this Friday.

Read more »

Close-up of a business man's hand stacking gold coins into piles on a desktop.
Opinions

If I had a big cash pile like Warren Buffett, here's how I'd spend it in 2025

I'd put Buffett's billions to work straight away.

Read more »

Man pointing at a blue rising share price graph.
Technology Shares

Up 30% in a month, this ASX 200 tech share is 'a compelling opportunity': expert

Analysts from listed investment company WAM Capital say this ASX 200 tech stock is worth watching.

Read more »

Emotional euphoric young woman giving high five to male partner, celebrating family achievement, getting bank loan approval, or financial or investing success.
52-Week Highs

5 ASX 200 shares hitting multi-year highs after strongly rebounding from tariff turmoil

These stocks have hit new price milestones amid a day in the green for the ASX 200.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

3 key takeaways from the 2025 Macquarie Conference

More than one hundred companies presented at the Macquarie Conference this year. Here’s what we learned.

Read more »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »