I have definitely seen that there is more demand for SPT, the...

I have definitely seen that there is more demand for SPT, the buyers to sellers ratio has gone from double digit buyers and triple digit sellers to both triple digit. I see this as accumulation.

I gave SPT one more quarter 3 quarters ago but the changing attitude to BNPL has kept me here due to the fact that their runaway days are coming to an end. I don’t see it just as there is no credit checks and people are getting further and further behind, ie, basic items are now being put on APT, but, banks models are being affected as they are loaning to people and cannot check applicants history accurately as there is no record of the BNPL industry in traditional credit check providers.

This poses a risk to banks and the regulated banking system that the economy relies on. During COVID the growth was great, banks made an earn on fees organising funds to expand BNPL, but they have made their money and now it’s time to rein in the likes of APT and regulate them in to the system.
I think in a few more quarters we will start to see some real traction in SPT as it just complements the legacy banking and credit system.

I see upside going forward but with the possibility of down days due to general market conditions which will allow a top up, as I see it.