When you dig deep into certain sectors of the market, this year has been brutal ! One of the worst hit sectors is the FinTech, some stocks have had massive declines, as much as 80% in some cases.
A few have rallied hard in the recent few trading days. Looks more convincing with the bounce than a dead cat. Maybe the cat managed to climb on a pogo stick while falling...
So I decided to buy some shares of Tyro Payments Ltd (TYR) for this portfolio. I think Tyro is one of the more established players in this sector. Below is a quick summary of what they do...
I have even come across some small business that use the Tyro POS (Point of Sale) terminals, that look like these:
So I know it's a legit business, not a dot com internet hype. As Peter Lynch would say:
Being a down day on the asx, there was a sea of red across the watchlists. So it felt uncomfortable to purchase shares in anything. But I managed to pull the trigger on TYR...
Open Portfolio:
