No need for the personal attack,
@DaceC. I don't agree with
@McKhenry's point this time, but some of his inputs re Wisr have been pretty good in the past.
If Wisr continues to increase its loan volumes q-o-q (which it did again this time - just - even though it had priced itself out of the secured vehicle loan market (thanks again to
@McKhenry for that insight)), then the size of the loan book will continue to grow, even as the rate of book run off increases. What's interesting here is that at yesterday's opening price, Wisr was valued at less than the amount of cash in the bank, meaning that right now the value of the $885m loan book is completely disregarded by the market. Based on the price paid by MoneyMe for SocietyOne last year, Wisr's loan book is worth somewhere in the $300m to $500m range, with a share price of between around 21c and 35c. Even if this year's multiple should be lower to reflect the current state of the economy, imho this stock is seriously oversold.
