@ tradinator
So it hit the $1.50 target which was the minimum retrace expected.
Affirm demonstrated a similar pattern and hit a 38.2 retrace but Zip is technically weaker.
Can it hit the same 38.2 percent retrace as Affirm and put it at $5.70 or even 23.6 percent at $3.60.
It would have to be producing $250 million NPAT to justify even the $3.60 share price so this is highly unlikely.
I suggested several months ago that if they can harness AI to slash the cost of originating and processing the loans then this will significantly improve profitability but that is a long way in the future if at all.
Ann: Q1 FY24 Results - Zip achieves positive Group cash EBTDA, page-2364
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Last
$1.46 |
Change
-0.035(2.34%) |
Mkt cap ! $1.644B | |||
| Open | High | Low | Value | Volume |
| $1.50 | $1.54 | $1.45 | $19.96M | 13.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 104211 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 50000 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |