The BNPL space has endured a really tough 2021 with APT down 25% even after enjoying a takeover bid from US peer Square (SQ US), which is actually now called Block following a name change – I wonder home much that dramatic change cost! This week’s seen the payments goliath make fresh lows for the year before rallying over 5% yesterday, the risk / reward by definition has improved significantly but we stil believe the stock and sector are in the too hard basket until further notice.
MM is neutral APT around $85
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