2024-02-12 10:34:38 ET
Summary
- Dave has reversed its previously ailing stock price on the back of strong growth in new members and rising ExtraCash originations.
- The neobank is currently trading for a 0.97x multiple to sales as it targets near-term profitability.
- Total members sits at just under 10 million as its delinquency rate continues to dip.
Dave's ( DAVE ) rally from 52-week lows has been nothing short of dramatic, with the neobank moving up a remarkable 360%. This blistering rally came after a 52-week low reached in the aftermath of a 1-for-32 reverse split at the start of its fiscal 2023 that was forced by a roughly 96% collapse from its SPAC reference price. Dave is a mobile banking app that offers its members a range of financial products, with its core product ExtraCash offering cash advances....
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Dave: Do Not Short The Blistering Rally Of This Neobank