What’s up with Wisr (WZR)?
Thank you as usual for most helpful support. I was wondering whether you could comment on WZR please? Brian
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Answer
Hi Brian,
The consumer finance business Wisr (WZR) has been in our Emerging Companies Portfolio for about 18 months and its not been a particularly exciting position. When they raised capital recently they did so through Goldman Sachs (not Shaw & Partners) which was a disappointment to many involved in the stock. It’s very uncommon for Goldman’s to play in this area of the market and while it was a loss for Shaw, it does speak to the upside that others see in this small cap stock. We still like the stock with a breakout above 35c our preferred scenario. The company delivered some solid growth in FY21 with loan originations up over 50% to $221m, they might still be losing money but after raising $55m in June the business is well capitalised and set to ramp up growth.
