We don’t need to the BNPL companies are making hundreds of millions in losses per year. They say this is the cost of growth but that is bull most of the losses is in the fact they have to pay interest on the money they borrow and bad debts. What you think the founders are some sort of geniuses that discovered a way to loan money cheaper and better than the banks, credit card companies before them, wake up mate the founders of BNPL are con artists who realised hey we can bypass all financial oversight if we claim to lend money with no interest and charge “fees”. If we grow fast enough the stupid shareholders will not realise that the fees will never cover the cost of borrowing and bad debts and they will lap it up. Unfortunately you were conned, this is a zombie company, which destroys shareholder wealth.
APT Price at posting:
$67.95 Sentiment: Sell Disclosure: Not Held
