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Thursday, October 07, 2021 2:07:07 PM
The original statement is what got my attention:
"There’s nothing wrong with 2.50 a share for a company with $400 million invested and currently trading at 1/12th the price."
How much a suitor might spend on an acquisition has nothing to do with how much the candidate raised, especially if it only has a teeny weeny bit of it left. Other metrics having to do with estimated future income and resultant cash flows are the primary drivers of the price.
As my dear old grandfather Litvak said (just before they swung the trap), he said "You can't cheat an honest man. Never give a sucker an even break or smarten up a chump."
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