ASX Shares SPLITIT Payment Ltd - ASX code : SPT

Hi All,

SPT started trading last week after oversubscribed IPO at 20c. In just one week, its not trading at 99c.

I think it has huge potential like Afterpay (ASX : APT). Some of the recent chatter about this share.

Why the Splitit share price has rocketed 335% higher in just 8 days

Splitit to give Afterpay a run for its money after bursting onto the ASX with an oversubscribed IPO

Israeli buy now, pay later service Splitit completes $12 million IPO to list on ASX

Is Splitit the next Afterpay?

I think there are good chance that it will be trading around at 5$ or above in December this year.

What's your take on this ?

Rooky

 

My take is one of a loathsome, odious, parasitic concept. Much like a former pawnbroker cum payday lender. Fine for a probably small portion who are able to pay off the debt but for the rest hurtsville. If I recall the numbers correctly around 80% of the clients (?) payday lenders were those on Centrelink benefits. My guess is it will go the same way with this lot.

Still, it's there with the aim of making money for those who buy the shares so if it fits their attitude.......

 

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I work on a 10% 24 hours turnaround ,but looking at the volume on this one and the short trading history and the number of sellers xx buyers one has to adopt a different investment strategy that's comes with some %%of uneasiness and challenging ..If you were lucky enough the buy into this float and looking at the profit in after tax dollars the few day traders I talk too would have sold yesterday and left something on the table for the next in line..imho..

 

They make there money where the borrower cant pay everything but doesnt default. What happens if there is a recession?

 

Are these companies regulated in the same way as pawnbrokers and payday lenders?

 

Let’s be honest it is a speculative microcap startup. It could be at $5 by December, it could be at 5c. It could need to raise capital and dilute equity, it could be the next PayPal. it could be in administration.

Go in with your eyes open. I wouldn’t allocate a large % of portfolio to an individual stock like this but could be worth a punt, especially if you have a good knowledge of the market they working in.

 

Loads of replication in this space now. The biggest risk is that Visa or Mastercard could compete.

 

How do they make money?

 

Disgusting. They make money out of the disadvantaged!

Can't wait for the markets to open on Monday. I'll slip in a lazy 10K lol.

 

Hmmm, they always play the same way as it's down over 10.606% late today ,just walk in the bathroom wash your mouth out with soap ..