No one will take them over at a premium as not only do they have to satisfy 500 million of convertible notes which is a premium of 50 percent to the market cap but also fund $300 million of annual losses in 13 territories.
Even the most optimistic view puts culmulative losses at $1 billion before break even ( which won't happen)
What would a buyer get for it's $2.5 billion investment.
10 million non exclusive customers and tens of thousands of non exclusive merchants.
In real terms not a lot
The sector has been seduced by the psuedo $29 billion takeover of Afterpay but if you have a deep dive into block accounts even after the fall from $290 they are overvalued by 10x and the takeover was simply to disguise their own financial shortcomings.
Block bought Apt overvalued paper with its own overvakued paper and is going to have to repay APT $1.5 billion in convertible notes in my estimation in the next quarter ( buried in its risk statement ) and that is going to give them a massive problem.
I can see Block getting to $151 and I'm accumulating a short position.
ZIP TO BOUNCE!!!!, page-343
-
- There are more pages in this discussion • 93 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add ZIP (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.01 |
Change
0.100(5.24%) |
Mkt cap ! $2.544B | |||
| Open | High | Low | Value | Volume |
| $1.95 | $2.05 | $1.94 | $38.11M | 19.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 31620 | $2.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.02 | 23041 | 3 |
View Market Depth
| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |