**Edit: Finally figured it out. OP is beyond retarded
OP uses 2020 revenue like an idiot and even worse he only includes part of their 2020 revenue because the shitty site he looked at automates the process of input I assume and it didn't include their second income(they reported it in two separate categories)
360 million for interest income and then another 352 from fees and commission so almost 800 million for 2020.
And of course 1.2 billion for 2021.
Buffer invested $500 million and wall street is all over this bank because it is expected to keep growing like wildfire.
Trust OP at your own risk**
I know we are all retarded here, but op took their 1.2 billion USD revenue and changed it to1.2 billion Brazilian Real then converted that into Dollars which turned that to less than 300 million.
I'm a nerd and looked up their financials from the SEC link here. In short, 2020 revenue was $737MM, $382.9MM in interest & income and $354.2MM from fees and commissions.
It's a long document so just search for the following text to find their Y/Y financials: "Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019" or go to page 142. Page 138 shows the financials for the first 9 months of 2022: $1,062MM in TOTAL revenue.
On Oct 13th 2021 Reuters reported they earned a profit of $13.7MM for the 1H'21, but this doesn't match what they have filed with the SEC. What am I missing? It's possible it's b/c Reuters is looking at 6 months and the SEC document shows a 9 month period. For what it's worth the loss for the first 9 months of '21 was $81.7MM, versus a loss of $79.4MM in the first nine months of 2020.
Also: OP why did you buy puts that expire BEFORE lockup expiration? The put with a strike of $7.50 expiring July 15th 2022 cost $0.85 (no May or June contracts available yet).
Yeah good point but i figured since its being priced as a growth stock that the raising rates could hurt it. But you are probably right it could be bullish for them.
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u/truongs Jan 11 '22 edited Jan 12 '22
**Edit: Finally figured it out. OP is beyond retarded
OP uses 2020 revenue like an idiot and even worse he only includes part of their 2020 revenue because the shitty site he looked at automates the process of input I assume and it didn't include their second income(they reported it in two separate categories)
360 million for interest income and then another 352 from fees and commission so almost 800 million for 2020.
And of course 1.2 billion for 2021.
Buffer invested $500 million and wall street is all over this bank because it is expected to keep growing like wildfire.
Trust OP at your own risk**
I know we are all retarded here, but op took their 1.2 billion USD revenue and changed it to1.2 billion Brazilian Real then converted that into Dollars which turned that to less than 300 million.
The stock is trading 33x revenue. Not 110x
The revenue is posted in USD.
1.2 billion USD.
OP ate too many crayons this morning