I actually think now it's pretty much a tale of two companies -...

I actually think now it's pretty much a tale of two companies - the Zip before this moment and what they might be able to pull off in the next 3-4 months. The high level of interest in the US will be helping their cause, but my expectation is they'll soon announce:
- either one or two major strategic partnerships (e.g. Goldman Sachs type of thing) - this however will need to be more than just Goldman are powering Zip's longer duration loan products.
- one or two major US retailers, including ones we may not immediately think of, like DELL or something? I've noticed some of these companies appear prominently on the website, and as an example DELL banked close to $US100bln in revenue last year, noting that is global revenue, but still US sales would be a lot.
- a substantial holder - or, at least the above two would serve to attract larger interest into a substantial holder.

If they can pull that off in the next few months, the company going into 2022 will look materially different to what they have been. For me, the current price action is completely meaningless - all that matters is whether they can pull off what I've outlined above. Given the heightened interest in BNPL, LD's presence in the US for 3 months and their public comments that they're actively pursuing the above, I think it's looking positive, and definitely a lot more positive than it was immediately after Q4 results.