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Joint Stock Company Kaspi.kz (KSPI): A Bull Case Theory

We came across a bullish thesis on Joint Stock Company Kaspi.kz (KSPI) on Vidette Capital Research’s Substack by Tristan Unger. In this article, we will summarize the bulls’ thesis on KSPI. Joint Stock Company Kaspi.kz (KSPI)'s share was trading at $88.22 as of 12th June. KSPI’s trailing P/E was 8.04 according to Yahoo Finance.

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Kaspi.kz presents a compelling long-term opportunity as a dominant super app in Kazakhstan, integrating payments, e-commerce, and fintech services with...