Opendoor Bull Eric Jackson Says DAVE Stock Could Replicate Sezzle's 47x Run — And Wall Street Is Missing A Major Catalyst

• Jackson believes ‘Pay-In-4’ would add $25 million to $117 million to Dave’s revenue by 2028.
• Jackson, known for his bullish bet in Opendoor, has previously backed Palantir, Carvana, Better Home & Finance, IREN, and BTQ Technologies.
• DAVE shares have declined by over 16% year-to-date; Stocktwits sentiment for the ticker was ‘bullish.’

Hedge fund manager Eric Jackson, best known for backing the meme stock Opendoor, published a thesis on Sunday arguing for a strong upside in fintech player Dave, Inc. 

In a Substack blog and accompanying X thread, Jackson said that the market is overlooking a major upcoming catalyst in Dave: the launch of "Pay in Four," which could add between $25 million and $117 million in incremental annual revenue by 2028 and push its stock higher by several multiples.

Sezzle, Inc. “went from $4 to $187 doing exactly what DAVE is about to do. Wall Street is modeling zero revenue from it,” he said on his X thread, comparing the buy-now-pay-later (BNPL) lender’s stock’s 47-times growth between January 2024 and July 2025. “Even after Hindenburg shorted it and it crashed 68%, shareholders who bought at $4 are still sitting on a 15-bagger.”

‘Pay-In-4’

Dave is a U.S.-based fintech platform offering products such as small-dollar cash advances (ExtraCash), digital banking, budgeting tools, and a subscription model. It uses AI-driven underwriting (CashAI) to assess credit risk and expand lending. The company went public by merging with a special purpose acquisition firm (SPAC) in January 2022.

Recently, Dave has seen strong growth – revenue surged about 60% in 2025 with profitability improving sharply – and is rolling out new products. The company is testing “Pay in 4,” a BNPL option that lets customers split a purchase into four equal, interest-free installments, typically paid every two weeks and allows shoppers to spread out payments without using a credit card, with a full-scale rollout expected later this year.

Dave Could Replicate Sezzle’s Growth

Dave is following a successful growth playbook similar to Sezzle (SEZL), but with a superior, more stable business model, Jackson argued. Because Dave already possesses a massive proprietary dataset on its subprime customer base and operates with high-profit leverage, the new revenue engine from Pay in 4 would drive massive growth in net income and lead to a significant long-term stock re-rating.

“When you add a product to an existing customer base with no incremental CAC, most of that revenue drops to the bottom line,” Jackson said, highlighting Dave’s lean 200 to 300-member team and 3 million customers.

“DAVE already trades at 10.6x forward earnings -- cheaper than Sezzle at 12.7x... At $186, you are getting this optionality [Pay in Four] for free,” he said.

Jackson’s Other Bets

Jackson’s bets are widely watched by retail investors. The EMJ Capital founder, who also runs a crypto treasury company, has previously backed Palantir, Carvana, Better Home & Finance, IREN, and BTQ Technologies, among others.

Dave's shares are down 16.3% year-to-date. On Stocktwits, the retail sentiment for DAVE was ‘bullish’ as of early Monday.

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