The prospect of rising global interest rates, mounting losses and greater regulatory scrutiny has wiped tens of billions of dollars from the market value of “buy now, pay later” companies, in a stark reversal of one of the pandemic’s hottest investment trends, Nikkei Asia reported.
The companies, which offer credit to consumers for small purchases, soared in popularity during coronavirus lockdown as people splurged online on new clothes, shoes and home furnishings, the report said, adding that the investors who bought in at the peak are nursing hefty losses and putting their faith in industry consolidation to revive battered stock prices.
Read the full report: Nikkei Asia.
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