How are you spinning all of this into a negative for Afterpay?...

How are you spinning all of this into a negative for Afterpay?

1) Klarna's efforts in US is showing signs of higher credit losses, while Afterpay who has been in the market longer has no such problems. While I'm just speculating, this could be due to Afterpay's "self-cleansing" book which essentially cuts of lower quality consumers. These consumers will look for alternatives such as Klarna. This is one advantage of being a first mover.

2) Afterpay noting it has a strong cash position... Really not sure how you are turning that into a bad. Of course they are thinking about uncertainties and acknowledging it but saying they have enough cash to easily get through this. Only an idiot looks at this as a negative, especially in a global systemic event where all companies would be forward thinking in their risk assessments.

3) Sales down in the UK somehow means Afterpay's cash will be eroded? Another made up "fact"?

4) Klarna is finding problems where Afterpay isn't. The US was mentioned multiple times in your post but this market has been nothing but fantastic for Afterpay. Two companies in similar industries but different management and execution. Different quantitative credit risk models and different risk management processes.

So thank you for your post, it validates my decision to own APT