Business
Buy now, pay later sentiment sours on concerns about costs, valuations – The Australian Financial Review
Sentiment sank on buy now, pay later stocks on Friday, with Afterpay shares plunging 10 per cent when they came back on to the market after a $1.5 billion cap raising….
A sharp rise in customer and merchant numbers reported by Sezzle and Openpay on Friday was not enough to support their stocks as investors worried about the rising costs of chasing Afterpay and Zip.
Sezzle, which copied Afterpays model in 2017, said January sales were 65 per cent higher than the average month last year and that it was its best-ever month. But its shares were down 8 per cent to $9.12 mid-afternoon.
Like Afterpay, Sezzle is still in the red: it reported an after-tax loss of $US32…
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