ZIP lumbered on at pathetic valuations because it had lofty ambitions but was never a valid business. Last year it was pumped beyond bursting point after wiping out debt, reconstructiing its capital base and now it is supposedly humming, except in the last 6 months it brought in $509 million dollars revenue and spent $537 mil to do it. 20% of that was customers failing to repay it. Tough business IMO
Afterpay is still unprofitable, it is propped up by Square and CashApp, they depend on each other and make a valuable business unit. ZIP is on its own.
This caper needs more than announcements, but the landscape has changed and it has done its dash
OVT Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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