More gains to comeAs we approach earnings season for many equities, GSY is somewhat of a staple equity in CANADA. The necessary services that GOEASY provides for Canadians is and will continue to rise, as inflation proceeds to increase costs of goods and services. There are many people who need to take a loan which they may regularly be denied by financials, who can they turn too?
Its quite unfortunate that its come to this where regular borrowing of finances is needed to just get by but its apparently so. This trend of borrowing will continue so long as high interest rates persist more and more people are unable to make enough income for necessary goods like appliances, home renovations etc. The cost of borrowing from GSY is quite high and although the Canadian govt capped the max interest rate that borrowers have on this loans are between 30-40%. We could say this company will continue to profit fundamentally. Fundamentally they are increasing their services and cater to people with delinquent or subprime loans which they can not go to any of the big banks for a loan which may include TD BANK, BANK Of NOVA SCOTIA to name the few.
