I think this would be correct if they were still funded primarily by retail investors, however with their warehouse facility they become more 'traditionally' funded. These facilities typically use tranches where PLT would need to put up capital to cover the first component of losses.
As has been reported, their key USP as a business is their diversification of funding sources. I like this as too much concentration in funding can create issues especially in volatile times.
PLT Price at posting:
7.1¢ Sentiment: None Disclosure: Not Held
