Interested to understand your rationale for buying more.
As i see it:
1.The space is flooded with all these new entrants and sure prospa have first mover advantage. However the new players are driving up and will continue to drive the cost of acquisition up.
2. The business model relies heavily on brokers and the reality is a new entrant who pays more commission will get the business.
3. How long until the small business space is regulated like the consumer finance industry is?
4. Missing your prospectus forecast should be a warning sign. They only just released the FY19 results which showed they are hitting the prospectus forecast albeit for a different period. You didnt know then? A receivables book does not change over night.
I will continue to sit on the sidelines and watch for a bit before buying in.
all IMO and DYOR good luck all.
PGL Price at posting:
$2.69 Sentiment: Hold Disclosure: Not Held
