ZIP was down 6% yesterday after reporting OK numbers, but increasing cash burn. The only decent player here was Afterpay. The rest will eventually wither away, be put on life support, and cease to exist. Openpay at least decided to admit the game was up.
I really got this whole sector wrong!
But I still feel lucky. Imagine holding ZIP and SZL above $10 with 100K on each like some traders boasted! Ouch!
Ann: Further Update- Receivers & Managers, page-6
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