Well, there are a couple of problems there too. Lulu's P/E, on the low end, is in the forties. (Half of 40 isn't 15.) Then, there's an even bigger problem. Lulu's growth rate is half that of BRAV's. The growth rates are what make the P/Es so large. So, as part of your "pinksheet penalty" part of the equation, you need to account for BRAV's doubled growth rate. A PEG ratio can help you with that. Then, when you cut that in half, guess what? BRAV is STILL UNDERVALUED.
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