The Bear Room, page-981

https://hotcopper.com.au/posts/73113191/single

It remains within the channel and now is in 5th wave as expected.

The only time you get five waves is in an impulse or bull market or a C wave in a correction.

As I've said before fundamentally it's grossly overvalued so presently my count is that this is a Fifth wave in C that tops out at $1.60 area and then returns to 26 cents or zero.

The bull case is that if they can fully harness AI for the origination and processing of loans then this a real meaningful business.

The business model as it stands generates significant revenues except in the present format it's expenses are always going to outweigh its income.

I very much doubt we will see any savings from AI in the short term so expect Q3 and Q4 to show significant losses.

Either way once this wave tops out in expect it fully retrace or at least 61.8 percent which will see it back to circa 80 cents