Hello friends, I got an update for you, now with a rounded number
I decided to sell
$AFRM +
$PAYC, and here's my thinking:
- I get a pretty decent exposure to $AFRM anyways through $SHOP, not only are they a sole processor for Shop Pay installments but are also invested in $AFRM, own about 7% of the shares (Class A+B combined)
- I recognize the power of $SQ's Afterpay in combination with CApp and Square after I watched Block's Investor Day, it's just one well put ecosystem. Afterpay is also a bit larger in terms of GMV and has superior margins.
My overall plan is to just add to
$SQ and
$SHOP and chill.
When it comes to
$PAYC I recognize the power of Square Payroll and HR solutions in combination with the whole ecosystem especially as they move more into Mid market, that's going to be interesting. Therefore it just makes sense for me to consolidate here.
I'm also selling
$ZI $DOCN, no specific reason really, just want to move my capital into my highest conviction names.
Wrapping up, all
$AFRM $DOCN $PAYC $ZI are great companies in my view, but like I said, it makes sense for me to consolidate, especially as I favor optionality over specialization at this point in time, while still maintaining an exposure to those players/spaces without further fragmentation.