Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
Klarna (ticker symbol: KLAR), the buy now, pay later (“BNPL”) provider, has been the subject of repeated warnings by the Rabid Capitalist since 2023. Its service extends credit to the weakest consumers, the unbanked and low-balance retail customers, exposing the company to a high degree of delinquency and default risk. These exposures will be magnified during a decelerating or contracting economy. It appears as if public equity investors have begun to reach this conclusion.
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