The Plenti Group share price has slumped 64% so far this year as the online auto & personal lending business has been buffeted by a re-rating of tech stocks, higher interest rates & the threat of increasing bad debts in a slowing economy as those interest rates start to bite.
The risks are very real. Yet, the company is growing like gangbusters as it & other challenger lenders take market share from the less nimble big four banks. It's loan portfolio at 30th June 2022 was $1.44 billion, up 90% from the prior year, with ambitions to grow it to $5 billion in 2025.
https://stocklight.com/stocks/au/financials/asx-plt/plenti-group
https://www.marketindex.com.au/asx/plt
