Yesterday after the market closed Pagaya announced that it would be selling what is likely to be $143 million of convertible notes. In addition, the company announced an upsizing of its current term loan facility, while also announcing that it would be paying down at least $270 million of high cost debt-this debt had interest…
Summary Pagaya’s valuation remains low both absolutely and relatively despite strong operational performance due to market sentiment and misconceptions about the fintech space in general, particularly subprime lending and its SPAC origins. The company has the potential to show significant growth in network volume in 2025, particularly in auto lending and POS, with new partnerships…
Pagaya shares have fallen by 17% today after declining 6% on Friday. This is not, repeat not, a function of the company’s earnings report or its outlook I reviewed those on Friday, and my opinion didn’t change over the weekend. What I believe has happened is this. Subscribers may recollect that Pagaya raised money in March through…
This morning, we added another 900 shares of Pagaya to the portfolio. We bought the shares at $13.89, so the total consideration was $12,510. That brings our holding of Pagaya to 3200 shares, which is a weighting of a bit greater than 5%. Our margin balance goes to $268,025. As mentioned in the post regarding…
Pagaya announced its results for its fiscal Q2 and updated guidance. It also discussed some of its most recent strategic initiatives and some significant KPIs. Simply put, everything was good, or from my perspective, better than good. As I write this the shares are down 7.7%. To say that is a completely illogical evolution is…
Pagaya shares have bounced sharply up by 27% in just three days. Of course the shares had fallen by 22% in the prior 9 days, so basically in twelve days the shares have lost 1% despite their interim journey. Some of that is the market which has been incredibly volatile over that period. If you…
Just as a point of interest, today is AI Appreciation Day. I have no immediate plans to celebrate, other than to note that marketers can find reason to celebrate something every day of the year, and today is for AI. One lady wrote on one of the AI sites that I read that she has opted…
The divergence between Crowdstrike and Zscaler (and most everything else). The misunderstood quarter of GitLab; Pagaya raises EBITDA guidance-hopefully construed positively. 1. Crowdstrike Pattern recognition is supposed to be the mainstay of analysis. Most of the time, when I attempt to write an article about a company, or an event, I try to compare it…
Many subscribers have positions in Pagaya. The company released its earnings earlier today, May 9, 2024 and the shares finished the day with a gain of 20%. I would point out though, that while the shares were up 20% today, they are still well below where they were prior to the company announcing its secondary.…
Pagaya held what was billed as a fireside chat sponsored by the Jeffries brokerage and moderated by the Jeffries analyst, John Hecht. The presentation was webcast by Pagaya and featured the company’s CEP Gal Krubiner, CFO Evangelos Perros and President Sanjiv Das. Just to summarize, the presentation was upbeat with a good deal of positive…