Yes, this sentiment makes a lot of sense, as does abiding how the market is voting.
However, when people speculated about a p/e of 10 18 months ago, latest quarterly revenues were $3.0M, about 1/16th of the last reported; 15 months ago $6.7M, about 1/7th, and 12 months ago, about 44%. Profits were about the same percentages.
So, 18 months ago, perhaps people looked at this type of projected growth and thought the market would reward it. Made sense, but it did not.
Now the company is roughly 10x bigger and more established with growth diminished to about 100% YoY, and the company will be trading in Sweden. Still makes sense to think the market will reward it, imo, but, of course, it may not. Still the upside potential is very definitely there.
Also, makes sense to assume new share issuance has been the main culprit. But even if there is no p/e multiple expansion from the sub 1 area, the pps will jump 50% a year for the next two, when there will be no more new shares and may be a spin out.
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