Hey there, I wanted to wait until after Goeasy filed earnings to answer your question.
Over the last year or so, I've been relatively hesitant on alternative lenders. I'm not sure if you were a member back in 2024, but I removed Goeasy from the Bull List around the $200 mark citing some concerns about the overall economy.
These alternative lenders are exceptionally volatile once the economy starts to rollover and in Goeasy's earnings we could be starting to see the initial signs of that. It was not a good quarter.
Propel, on the flip side, is a Canadian listed company but has the vast majority of its exposure to the US. We are seeing the company do much better than Goeasy primarily, in my opinion, because of the health of the US consumer relative to the Canadian one.
I would imagine Goeasy will face some large volatility to the downside tomorrow on open, as the quarter was one of the weaker ones it has had in many years.
I do believe there will be a time and place to buy these companies, but I'm not sure I'd pull the trigger just yet.