OppFi Is a Mess, but CEO Todd Schwartz Can Likely Salvage Some of the Losses
I'm not going to sugarcoat it. The past few quarters have not looked particularly promising at the subprime lender OppFi (NYSE: OPFI). Margins have been shrinking, loan losses are piling up earlier than expected, certain growth initiatives don't look to be working out, and the company recently hired its second CEO in three months. The stock has taken a beating, down nearly 67% over the last year.
While the opportunity is not necessarily what I initially thought it was when I bought in on this stock, I am somewhat confident in new CEO Todd Schwartz's ability to right the ship and salvage some of the losses. Here's why.
Image source: Getty Images.
Source Fool.com
