leo"People got to understand that splitit is not like any other...

leo

"People got to understand that splitit is not like any other bnpl providor,"

True it is not like any other BNPL, but all the others at least have revenue, SPT's model whitelabel or merchant orientated has never produced significant revenue, $2.6m in Q1 (a fall of > 20% from Q4 21) for a global company operating in over 20 countries is worse than pathetic. The whitelabel approach was not the brainchild of the new CEO they have been going down that road for over a year as they cannot sustain active merchants having more inactive merchants than active ones (see qtrly reports) (total merchants > 4k , active merchants 1.3k), rather he sees it as an approach that has any possible chance of success, I wish him luck, he will need it.

The uprampers think an ever increasing interest rate is a plus for them but it is not, their funding costs will go through the roof and the 3% they charge now has not been well received by volume merchants with small margins (on top of the fee they are charged by the cc company). They only have a 150m funding facility with GS and any new deal will be at a much higher rate given a rising interest rate and a falling MC of splitit resulting in a much higher risk.

One user today wrote SPT is a $5 billion company, really, they could also believe the earth is flat.

I am afraid unless something totally unexpected arises I can see some of the options for the future being

sold for a small amount for the API's
CR causing massive dilution
administration
delist

Today's volume and price fall indicates anything forthcoming is more likely to be negative.

Those who have held from $1.30 and even higher will continue to beat their chests and insult those who see reality but deep down they must realize they have done the money on this one.

Quite a few uprampers on here today but according to AH64 all the negative users are me