Buy Now Pay Later

Posted on | by Leon Hinde

Sezzle reported its provision for uncollectible accounts soared to $US13.8 million on revenue of $US27.8 million for the June quarter.

The buy now, pay later sector has seen a pickup in bad debts as a percentage of revenue.

Zip Co also reported higher percentages, but not as much as Sezzle. We’re stepping back from the sector and will review again after the September quarter.

Woodside – Accumulate

Posted on | by Leon Hinde

WPL:ASX is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.

WPL has agreed to an all-scrip acquisition (merger) of BHP Petroleum’s
assets.

Underlying profit for the six months to June rose 17% to $US354 million, falling short of estimates.

Accumulate.

Cure ETF – Buy

Posted on | by Leon Hinde

CURE:AXW is under Algo Engine buy conditions and the current pullback provides another buying opportunity.

ETFS S&P Biotech ETF (ASX Code: CURE) offers investors exposure to U.S. biotechnology companies. These companies are engaged in research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering.

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U.S. Consumer Sentiment Plummets

Posted on | by Leon Hinde

U.S. consumer sentiment dropped sharply in early August to its lowest level in a decade, in a worrying sign for the economy as Americans gave faltering outlooks on everything from personal finances to inflation and employment, a survey showed. 

JB Hi Fi – Up 167%

Posted on | by Leon Hinde

JB Hi-Fi is under Algo Engine buy conditions and is a current holding in our ASX 100 model. The stock is up 126% since being added back in November 2017.

FY21 group sales rose 12% to $8.9 billion and profit jumped to $506 million, which was largely in line with consensus forecasts, however, the electronics retailer warned that the 2022 financial year has had a softer start.