The BNPL space was on fire yesterday – they tend to love a lockdown however I think the news that PayPal was raising merchant fees, a move which most importantly crushed the pessimists argument that margins were set to be squeezed is the more important factor. This is undoubtedly a very volatile space and MM will consider trimming our recently increased Z1P position above $10 but we remain bullish to its ongoing expansion.
MM remains bullish both sector heavyweights APT and Z1P
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