That's just one opinion of a plethora of opinions. If they had uplisted they would have attracted "dumb retail money." That makes no sense (the difference of what constitutes "dumb" money compared to "smart" money). Especially that is the case if and when they start moving up to higher exchanges.
And generally speaking, one would think that those with high education would do in depth DD before getting into a stock so as to minimize "risk." That way they don't just get into something with no knowledge of the company, what they are about, what they are doing, what they are setting out to accomplish, etc.
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