PROG: An Overlooked Cash-Generating Fintech

Core Viewpoint - PROG's stock has declined over 20% in the past year primarily due to the bankruptcy of retail partners and a decrease in Gross Merchandise Value (GMV) [1] Group 1: Financial Performance - Despite the stock decline, the business continues to generate significant cash flow [1] - The company is focusing on building its competitive advantage in the market [1] Group 2: Investment Perspective - The market is perceived to be overly concerned with short-term challenges, leading to mispricing of fundamentally strong companies [1] - There is an emphasis on identifying short-term mispricings to unlock long-term value [1]