Jehoshaphat Research claims PROG Holdings has weaknesses
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- 1Jehoshaphat Research claimed that PROG Holdings' relaxed lending standards and optimistic loss assumptions are masking weaknesses.
- 2As of the end of June, 27.2% of delinquent loans within PROG Holdings' combined Four and MoneyApp portfolio had occurred.
- 3As of the end of June, only 73% of the reserves required to cover PROG Holdings' delinquent loan balances are prepared.
So what's the key point?
Jehoshaphat Research said PROG Holdings is lending too easily and expecting too few losses. This means there could be risk because there is not enough money to cover 27.2% of the delinquent loans.
Source The Bear Cave · View original ↗
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