Splitit has shined bright this week, with double digit gains daily and a whopping 14 million dollars in shares exchanged by 2pm Tuesday 29 October following the release of the companies quarterly statement and a brand new investor presentation.
These releases coincide with the AGM being held in Sydney, Australia tomorrow evening, whilst the statements did not necessarily warrant such price action witnessed today, they were far from negative, with most metrics increasing two-fold over prior quarters.
Splitit has also silently avoided regulatory scrutiny over the last few weeks which saw rivals Afterpay and Zip shred hundreds of millions of dollars from their market caps, its clear that some of this free capital has entered less risky BNPL schemes like splitit, which instead of issuing credit, directly funds merchants for transactions.
Might see some consolidation back to 0.95, Expecting a move to 1.00 at the least.
Still a value buy @ 1.05-1.15 AUD
Morningstar fair value = 1.70 AUD
These releases coincide with the AGM being held in Sydney, Australia tomorrow evening, whilst the statements did not necessarily warrant such price action witnessed today, they were far from negative, with most metrics increasing two-fold over prior quarters.
Splitit has also silently avoided regulatory scrutiny over the last few weeks which saw rivals Afterpay and Zip shred hundreds of millions of dollars from their market caps, its clear that some of this free capital has entered less risky BNPL schemes like splitit, which instead of issuing credit, directly funds merchants for transactions.
Might see some consolidation back to 0.95, Expecting a move to 1.00 at the least.
Still a value buy @ 1.05-1.15 AUD
Morningstar fair value = 1.70 AUD