You are right, stock price is the same today as in July, 2016. Absolutely zero shareholder wealth creation in over 6 years! Yes, the company market cap is 30% higher now due to the cap raise but that does not create wealth for shareholders.
I share your sentiment wholeheartedly, but just to play a bit of devils advocate I would argue the company is better today than then for a variety of reasons….higher revenue, more robust products, better owned assets, better balance sheet, perhaps better forward prospects. I also think it is a better stock to buy today than 6 years ago simply due to most valuation metrics being lower.
Friday will tell the tale for me. If they lay another egg then I will exit the stock over the coming months. Simply too many other good deep value stocks to buy right now.
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