I'm genuinely puzzled. Underlying sales over $2B for the half and the company still doesn't make a profit. Can someone rational please explain what is going to change to eventually allow APT to make money? Simply pointing out that Amazon didn't make money for a long time is not helpful, unless you can explain why APT has more in common with Amazon than with my penny-dreadful miners (which I am glad to see are also not making money). Is the explanation that we think APT will eventually be able to charge companies more for using the service? I thought the attraction of Afterpay was that it had little exposure to bad debts because of the short repayment window, so why is the receivables impairment expense eating up a quarter of total income? Isn't that a bit of a worry if the economy softens??
APT Price at posting:
$18.00 Sentiment: Hold Disclosure: Held
