The dumbest thing I have seen in the BNPL space is the people...

The dumbest thing I have seen in the BNPL space is the people who thought Splitit would be a great success, followed closely by people who think "profitability" and "making a profit" is a sign of quality for a company in a winner takes most land grab for customers and retailers. It was incredibly easy to see that Australia had only one likely winner - Afterpay.

Even fund managers were trumpeting how clever they were for identifying that Humm made accounting profits and Afterpay didn't; incapable of understanding the difference between reinvestment for growth (Amazon, Tesla, Afterpay) and actually making losses beyond one's control.

I don't see any value in Humm or latitude - dinosaurs with no moats and little growth to survive Apple, Block, Google and others becoming banks as well.

I only held Humm in the past as a swing trade based on the dumb money flow being strong enough to move it up for a time. the same way i did for zip.

gltah! you're really going to need it I think. PS I'm never short. I'm long only on all things so I'm just offering my 2c view for what it's worth. same way I did on splitit years ago.