You could also interpret it as Larry wanted to get out ages ago - he was selling a few chunks at good prices, $54 mil in fact but then had to stop selling after it tanked until only a short time ago when it hit a peak. In the time in between he did make one purchase of $1 mil (in 22) but that could have been a signal to support the SP?
Plenty of challenges, but the regulators are still breathing heavily down BNPLs neck. In the US Trump may curtail the activities of the Consumer Financial Protection Bureau, but credit licencing is a state responsibility, which is what the sudden 6 state shutdown in July was about.
In ANZ the economies are cactus and the rules have made it very hard. In the US they are cracking on with full employment and gangbusters economies, but the competition is intense, arrears in home, personal and credit card lending are off the scale (BNPL stuff does not get reported) and ZIP has set itself up with the expectation of 30-40% growth and further cost cutting.
The new credit assessment rules in ANZ and the States will make it harder and when the RBA introduces its changes, allowing merchants to charge customers for their costs of BNPL they are seriously going to have to change the business model.
Could be a circus, but FOMO may take over too, particularly when the Klarna float comes to town - I don't think anybody understands the size of the impact that will have on the BNPL FOMO - you can see OVT and Splitit circling around seeking to get some mileage from it. In that sense the race is on to beat the US economy getting pounded with inflation and interest rate rises - they are in a hurry, watch them
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