PGY - Pagaya: Everything Is Obvious In Hindsight (Rating Downgrade)

2024-04-19 16:08:44 ET

Summary

• I was initially bullish on Pagaya Technologies due to its enticing growth prospects and attractive valuation.
• However, upon closer inspection, I realized that Pagaya Technologies is facing significant challenges, particularly regarding cash flow and funding.
• The allure of Pagaya's narrative and financial metrics blinded me to its underlying struggles.

Investment Thesis

Pagaya Technologies Ltd. ( PGY ) is one of those stocks where everything is clear in hindsight. Several readers have now reached out to me, asking me my thoughts on PGY and whether now it's worthwhile considering....

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