Did you read their IM for the cap raise? Use of funds was...

Did you read their IM for the cap raise? Use of funds was clearly disclosed, including yes, funding to improve debt ceiling and making sure they had capital available to support their medium term goals of a loan book in excess of $2B. So they raised it, its cleared a path for lending and growth now, and they dont need to raise again as I understand it, given they have a clear path through profitability and will be self sustaining for capital well before they hit a $2B loan book, which they have capital on balance sheet to support anyway.

They actually did go up after the cap raise at 25c, and pushed through 30c again for a while. Until the massive tech sell off, crash of BNPL (who are down 80%), interest rate risk and a WW3 all kicking off, which means the WHOLE market has moved from growth to value.

Your telling porkies, not sure what your motivation is, that its all due to a capital raise. In fact, in the wash up, its more likely that them having got all the capital they need for the next few years, unlike many of their peers, will put them in a much stronger position.

In finance, I've never seen a company punished for a strong balance sheet. So you're just plan factually incorrect on that front.