Bought in early into ZIP and sold out progressively on way down.
Always open to reasons to buy back but some factors I think are reasonable hurdles
Banks are boring businesses that have no real points of differentiation
BNPL 3-4 years ago had established a new digital model for acquiring goods over credit cards. A few years ago only a handful of providers, but like Banks there are numerous BNPL providers offering much the same service.
Taking an age to get to profitability and then the challenge is to keep growing without margins diminishing.
The allure of current share price versus a few years ago then they do look incredibly cheap. Not sure that translates to value.
Still do not see Institutions climbing on board BNPL share registers and that seems a telling factor so far as a future opportunity. -
Be interesting to see rate of progress in next Quarterly.
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