Chart - Z1P, page-5893

Thursday’s numbers didn’t come out a month ago - Thursday will be an actual accounting document with full view of the finances, not just headline revenue figures. The reason this has moved up so fast is that it’s grossly undervalued compared to peers, and as each month goes by that the company shows it’s improving in key areas and becoming a seriousl competitive force in major markets (Ie Quadpay in US), it will continue to move up. Don’t get me wrong, if Thursday disappoints than the share price will be in trouble, but probably deservedly so. With 2021-22 revenue potentially in the $900m range a market cap of $20bln within 12 months is perfectly reasonable, again compared to major peers. I do think however this company is going to be volatile as this company moves away from ‘APT’s poor cousin’ and the shorters choice to one of only maybe 4 major global BNPL players. A lot of Australians won’t be able to see that as it’s pretty much been the APT show for a long time, but I would argue 2021 is going to see this transition. The sooner they can bring in US investor dollars, the faster that transition will occur.