IOU Chart, page-1897

“Yes most here are basically herd followers to what ever comes from the company.”

I have broadly given up posting here but I have to say, this is just patently inaccurate. Any reader of these threads can see there’s been plenty of critique/criticism of the company on this forum.

It bemuses me how someone can build up, and propagate, such a straw man argument. If these posts are to be believed, almost everyone here is a lemming and only Kevin can save us with his startling insight that the rest of the internet lacks. How conceited does one have to get to constantly post stuff like this?

I think a lot of posters have been critical for a long time about the lack of engagement with shareholder enquiries, not to mention uncertainty over warehousing and the unusual (in my opinion) use of funds for an investment in a third party financial. It certainly rattled me when $42m of funds raised by SH’s was put into IDSB and I was clearly not the only one who felt this way: just go back and read the announcement thread (ignoring the first 10 or so posts from people who thought IOU had somehow bought a bank). I for one reduced my position because I still don’t see the value yet. Others do and that’s great but it was too left field for my liking. It is fair to say the sentiment has been shot out since then. Those two points aside (IDSB and warehousing) I am comfortable the business is continuing to execute and the most recent quarterly was a solid update - but it’s concerning the market gave a collective shrug. There’s no hiding from that.

However, I believe the malaise is likely much more than just IOU - all ASX-listed BNPL’s except for Afterpay have six month charts that look just like IOU’s and in many cases they look worse. Afterpay bucks the trend for obvious reasons, and tends to now trade in line with Square in the US.

In my view it now seems likely that IOU will need to see not just continued solid results, but an overall improvement in BNPL sector sentiment. That can’t be rushed, it will happen when it happens. All of this just shows the importance of portfolio diversification. Tech and BNPL will have its day again, but more patience might be needed.

All just my opinion, not gospel.

Cheers
m