Oct 15, 2021

Image source: Getty Images The Splitit Ltd (ASX: SPT) share price has been in the red all day today, sinking by as much as 8% in afternoon trade. The plunge follows the company’s annual general meeting , where Splitit’s leaders outlined its future direction and reflected on a year in which COVID-19 amplified its business. The company’s interim CEO , John Harper, noted that his view as an involved newcomer had led to a new action plan to increase the company’s value. Despite positive overtones and forward planning from its leaders, the buy now, pay later (BNPL) company’s stock has failed to rally. At the time of writing, the Splitit share price is trading at 41.5 cents, 5.68% lower than its previous close. Simultaneously, the broader market is gaining. The S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) are both around 0.5% higher right now. Splitit’s next steps forward According to today’s releases, Splitit’s annual general meeting was topped off by the company’s interim CEO’s address . Within his speech, Harper outlined several changes Splitit will be making soon, saying: We are operating in a market that is moving and growing quickly. We need to bring a greater sense of urgency to capitalise on this opportunity from a sales perspective… [Splitit has] a natural and untapped opportunity in the market, but we need to do a better job of effectively articulating [its] value. To help grasp such opportunities, Harper will bring in a chief people officer and a product team. He said the new additions would foster collaboration within Splitit’s global segments and allow its technical engineers to remain connected to customers’ needs. The company will also focus on the North American and United Kingdom markets. Harper said doing so would enable it to tap into more “higher-value merchants”. It will also focus on improving its core product and attracting new merchants while reducing costs. Splitit share price snapshot The Splitit share price has had a challenging year so far, falling 68% since the start of 2021. Splitit shares are also trading 72% lower than this time last year. Should you invest $1,000 in Splitit right now? Before you consider Splitit, you'll want to hear this. Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Splitit wasn't one of them. The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more. * And right now, Scott thinks there are 5 stocks that are better buys.