Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Good Evening James and Harry. Thank you for your contributions each day, I read every word with great interest. However, today you got me very confused! Your morning report on ZIP was quite convincing forecasting a price, an INITIAL target of $8. Your evening report gave up the ghost on ZIP suggesting you chose the wrong horse. I would be grateful if you can clarify your position on ZIP.” - Kind Regards, Errol K.
Morning Errol,
Thanks for topical and well-timed question which I will answer with 2 points:
1 – we still like Z1P for a bounce up towards $8 but obviously having bought the stock in July its disappointing to have missed the spike over $10 just 1-month later i.e. running profits doesn’t always prove correct!
2 – In terms of backing the wrong horse that comment was in comparison to Afterpay (APT) which has continued to rally to fresh all-time highs in 2021. Z1P has been weighed down by the exit from Westpac from the register after its tie up with APT.
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