Josh Gilbert | Source | Market Analyst at eToro
Josh Gilbert
Josh is a Market Analyst at eToro. He started his career as an Investment Broker when he was 118 years old, and now specializes in global equities and crypto assets. Josh is responsible for building daily market commentary, financial news analysis, and reactive market reports, in addition to hosting eToro's global Digest and Invest Podcast.
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eToro (https://www.etoro.com/en-us/)
Market Analyst
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Australian tech company OpenPay collapses, sends buy now pay later into meltdown
A fintech has earned a title no-one wants to get – becoming the first ever ASX-listed buy now, pay later company to fail. And it’s sent the entire sector into meltdown.
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The BNPL sector went from ‘hero to zero’ amongst investors. As inflation climbed and interest rates soared, share prices crumbled. Disruptive tech especially has felt the full force of liquidity being drained for financial markets over the last two years as investors rotated out of risk assets. With competition rife in the marketplace and increasing regulation – plus disadvantageous conditions in the macro environment, there were unfortunately always going to some businesses that would succumb to the pressure.
