This is because the valuation of a heavyweight like Accel partners have placed on the business after more than 6 months of DD. The valuation is revealed by what they were willing to pay for 31% of GlamSmile Asia.
They paid a total of 7 million for 31% interest in GlamSmile Asia. That was more than the whole market cap of REMI as a whole! (which is now just over 8 million subsequent to the price rise)
A firm like this doesn't throw money away. They are paying 7 million and clearly expect significantly more than 7 million in earnings flowing back to them. Run the numbers of say 12 stores in China operating a half capacity. REMI is worth, IMO, more than 2 dollars conservatively.
It may be volatile for a while as they may be some sellers in the short term, but over the long term I think this is a great bet.
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