@mondyinvest I agree with what you wrote.
I'm a LTH and i am down a fair bit of money on this, i don't trade it or short it. I just buy and hold.
All the usual hotcopper and otherwise paid agenda idiots aside, I fail to see how buying Sezzle which is a loss making business, and about to go effectively broke will really help this to turn around. I have lost complete confidence in the management, and I was a pretty big supporter but based on actions rather than words, i find their actions to be.... not confidence inspiring.....
Here's the picture that I see, having held and purchased this stock over the past 18 months or so.
- Raise capital and dilute share holdings.
- Buy businesses to add customers << This looks good for YOY customer growth and revenue numbers, because more customers spending money is growth on the user numbers and on the revenue.
- Release financial statements showing great revenue and userbase growth! Awesome
- Lose money still.
So by using raised money to buy more customers and revenue (through business purchases), the business is growing, and so are the bad debts. Bad debts are basically dead money, so they're an expense of the worst kind really. You're not even really gaining anything from them. Becuase if you write off a debt from a customer, you will most likely get rid of that customer too, so bad debts also = dead customers.
So the overall picture i am seeing here, raising more money through cap raises, to buy more businesses to keep those revenue and customer numbers climbing, which looks good on financial reports but at the same time not really making the path to profitability clear. I'm not sure where it ends, it will just be another cap raise, to buy more customers, so they can prop up the numbers on the financial reports. I get it, this is how a "growth" business works, but i'm just not seeing how it works out herre.
I really hate to say this, as i always believed in the company, but if i look back over the past 18 months, i feel like it's now quite obvious to me what's been going on. I'm still waiting for my crypto wallet, which i now believe was just a BS hype thing to say to keep the share price... not dropping. I believe the latest buy in from the directors was just a shitty attempt to try and prevent a mass exodus of share holders, and was not done for any reason other than to try and grab a headline and to try and keep thingsd up for the share purchase plan at $1.90.
I am happy to be proven wrong by anyone that can string 2 sentences together and their username doesn't start with the word Good or Alpha. Please, someone prove me wrong, i'm down over 200k on this stock now, and it stings, a lot. Please please prove me wrong with a half intelligent answer that doesn't involve a rocket, the moon or a chicken.
I have no sentiment becuase i am dead inside. I hold.
(20min delay)