Investors rush into Splitit Payments (SPT) after Mastercard partnership
Splitit (SPT) +108.33%: the latest BNPL player to charge higher today, with shares in SPT more than doubling in the session after they announced a partnership with Mastercard. Clearly access to customers and merchants is key in the BNPL space, and the deal could potentially see Splitit capture a wide audience in just a short space of time and easily manoeuvre into new markets – it also sets them apart from the other names in the space. The network partnership bypasses the need to build relationships with each individual merchant – the path that other operators have gone down. There was no financial figure put to the market, but the story ran wild, as did the stock, which more than doubled, though it still trades at a discount to its all time high set soon after IPO early last year. A hot space for the traders. We like OPY & Z1P in the space, looking for a pullback in both to get on board again.
Splitit (SPT) Chart
