My reason for pointing out the 2 weeks timeline wasn’t for any other purpose then to show the rapid decline in the stock value over a short period of time and that management needed to react to slow down the decline. My disappointment is with the fact that I know, in the long term, SPT is a share worth investing in but in the short term there is lack of communication between management and shareholders which does nothing to build confidence in the company. SPT completed a CR raise which put them in a great financial position. But what do we know of their plans and how they intend to spend that money, very little. Sure there are snippets of what they intend to do but they need to elaborate. What can management do to deserve a pat on the back? Well, they could start of with by being more transparent to their shareholders by putting out regular announcements. “This is where we are at. These are some of the challenging obstacles. This is how we will navigate them. This is how we are advertising ourselves. And so forth”. Now, I’m not stupid, I know that some information is sensitive and cannot be discussed openly but surely some can be shared. Do press releases, he’ll, employ a person to answer questions on forums, anything to build confidence. Cause lack of information causes speculation.
Equally important, to signing up merchants, is advertising to consumers. Getting the Splitit name out there. Most people know who Afterpay is and Zip but how many are familiar with Splitit. When I talk about Splitit with family and friends they give me a blank stare, cause they haven’t heard of them. Now, before I get a hammered for mentioning Afterpay, let me just state that Afterpay, according to commsec, listed on the ASX in July 2017 and Splitit listed in January 2019. So there is not a huge timeline difference. Once again, someone will criticise me for saying that but like I said previously, I’m not expecting SPT to be worth $100 a share at this stage. Expecting it to have reached $2 a share is not unreasonable. It’s very achievable.
What I find on here is that there are shareholders who will not allow a bad word to be said about SPT and keep drumming the same beat. But the reality is that I don’t have time to read every financial word, document, study progression/outcomes, predict futures, basically guess where the company is at and where are they heading. I’m sure most investors feel the same way. Now, if this is all you do, good for you but I would rather be informed then to have to study the sh— out of it. Once again I’m going to get criticised for that with “so he invests but doesn’t do research”. That’s not the case at all. I study the company, where they began, what progress have they made, what are the profit/loss, what are the prospects for the future. But I don’t study them obsessively. I don’t have time for that.
I’m sure that I will receive some backlash for my comments here but as I have stated as a shareholder I’m entitled to my opinion. Those comparing how other BNPL stocks are doing today to Splitit, well please explain why SPT is down while all others have improved?
My guess is lack of confidence because lack of communication. It’s not my job to build confidence in the company, it falls on management to initiate and execute. That’s why I have been critical of management. That’s why I stated that management need to get their sh— together.
This of course is OMO.
SPT Price at posting:
$1.25 Sentiment: Hold Disclosure: Held
