We’ve touched on APT a few times in recent reports and yesterday it bounced over 7% from its intra-day low, my “Gut Feel” is we’ve now seen a decent swing low and the next 20% for this volatile BNPL stock is up. As one of my clients said this week “there’s one last chance to take a breath before getting dragged to the bottom by the next set” in other words don’t get married to a recovery by the tech sector, a view we agree with at MM. However I do caution medium-term as competition hots up in the new financial space, PayPal is set to release its “pay in 4 instalments” offering to its 9 million customers in early June, just in time for the EOFY elevated spending.
MM is bullish APT short-term initially looking for a ~20% bounce.
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