At least we know why CCA was down hard yesteday. While the...

At least we know why CCA was down hard yesteday.

While the sector was at one time a sharemarket darling, in more recent times stock prices have crashed because profits have largely proved elusive amid fears that bigger operators, including banks and tech companies, are moving in on the market.
The share price of leading Australian BNPL group Zip fell by more than 14% on Tuesday on news that Apple is to offer its own BNPL product.
“Products like Zip and Afterpay, I think they’re a good innovation in the credit market,” Jones said.
“Can we stop having an argument about whether [they’re] credit or not? It really is a dead-end street.
“Let’s start working on regulating [them] within the credit space. We welcome the fact that they’ve introduced a code, [and will] move to legislate it and fill any gaps.”