FXL Flexigroup

[trader_jackson]

Borderline stupid what is happening today... although I'm not going to complain

FXL released a rather short announcement with no financial details/impacts etc what so ever other than 'feel good' more merchants, more customers etc coming on board and the share price moves up 20%... yes twenty percent... trading volumes likely to be 5-6x higher than average.

This stuff, in my view, being a 'given' for flexi (growing merchants, receivables, and customers) after reiterating this was the focus 3 months ago, as well as showing strong double digit growth in these very metrics at half year results... so basically announcing what is already being done, but with a few names to show for it today.

More impressive given every other financial stock on the ASX is down today... Amazing how everyone has 'written off' the FOUNDER of By Now Pay Later and too busy chasing APT and Z1P (and crossing their fingers for a profit, one day)... FXL is just so damn cheap I suppose it was hard to keep ignoring it/placing a negative bias on it.

Not going to get too excited as tomorrow everyone will forget about the great progress the inventors of BNPL (that lead to $7.6 billion AUD market cap: Z1P and APT) and go back to thinking it is an old tired dog with no new tricks.... the main 'new trick' FXL seems to have learned (from Z1P and APT - the market leaders, in this trick) is shout from the room tops any progress you've made, even if its pretty average progress and you have no idea if it will result in increased profitability or what... as if Z1P and APT are anything to go by, an announcement even a mouse farting will send a rocket under your share price.

No, it is not the new APT and Z1P, it is the original 'godfather' that is about to blow the sector away (some say)... but really, its all about the story
https://www.fool.com.au/2019/05/08/i...pay-or-zip-co/