i think there is a massive misconception with Z1P and how much it is competing with APT in the BNPL space. there is a reason why management have NEVER split out zipmoney and zippay - zippay is a far more profitable business line (capital comes back in 6-8 weeks, instantly recycled, very high ROIC) vs. zipmoney which is akin to traditional personal loans and finance, much longer dated and far lower ROIC. i have done some rough calculations and would suggest zipmoney is about 1/5 as profitable per dollar 'lent' vs zipmoney.
the market has been asking z1p to provide a split between the two businesses for some time, so you've got to ask, why have they not been transparent?
full disclosure: i think this is a disruptive company that will take significant share from flexi/latitude, though i believe a lot of people covering this name have got their numbers very wrong on assuming a much higher % of the GMV is through zippay instead of zipmoney
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 131756 | 1.765 |
2 | 8482 | 1.760 |
1 | 4500 | 1.755 |
4 | 78428 | 1.750 |
Price($) | Vol. | No. |
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1.790 | 60250 | 5 |
1.795 | 296396 | 7 |
1.800 | 250468 | 15 |
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