Like OPT, Regal took a large position in ZIP during 2024 and heavily promoted it as a takeover target and high flyer. It reached $3.65 in December, now less than half and falling rapidly. Among the euphoria holders said 'if Regal is loading up so am I'. Familiar, but both have disappointed

Regal throws its weight behind ‘takeover target’ Zip Co

poured into the stock in JulyFund managers when it launched a $217 million placement at $1.52 a share via Goldman Sachs and cheerleader Unified Capital Partners.

Phil King’s Regal Partners issued a note to clients on Monday, telling them that Zip “has the potential to be a smaller large-cap”.

Regal pointed to Zip’s “long runway of growth” in the United States. It noted that BNPL penetration is under 2 per cent versus 14 per cent in Australia where younger consumers have adopted the platform to manage their cash and shunned traditional credit cards.