He will be privy to the dramatic deterioration in credit quality in the US as already flagged by other consumer lenders which if reflected in Zip default rates will result in a series of profit warnings after their ambitious forecasts that has propelled the share price to current levels.
He has a ready made excuse for selling out his entire shareholding in the name of "philanthropy " rather than his previous " tax reasons ".
The market may see his departure as positive news but short opportunities may arise prior to next financials.
ZIP Price at posting:
$3.43 Sentiment: None Disclosure: Not Held
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