Square (SQ US) & Afterpay (APT AX): Is the Price Right?
The market is enthusiastic for Square-Afterpay, but we believe prospects are challenged by credit risk combined with fast sales growth, increased...
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Square: Afterpay Acquisition a Master Class in Platform Synergies
Last week Square acquired Afterpay for $29B in an all stock deal. Its shares subsequently added ~$14B market cap…not too shabby.
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Vietnam's MoMo: A Venture Capital Investment With Private Equity Return?
Take rate is the most critical factor that determines the return MoMo could bring to investors. The key to defending its take rate amid intense...
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Kakao Bank - MSCI Done, Missed FTSE by a Whisker.
Kakao Bank (KB), South Korea’s largest digital bank, raised US$2.2bn in its South Korean IPO. It ended the first day of trading up 79% from its IPO...
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Tencent Holdings - Bulge Bracket Bull
TENCENT HOLDINGS: A competitor recently suggested the shares of Tencent have 73% upside. We beg to differ, further pain in these shares is expected...
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