Apologies, first point was just to illustrate that it wasn’t only clear “in hindsight” - all the signs were there and I shared my numbers and analysis, to a chorus of dissent. I know you weren’t among them though.
I do mention that the motivation to takeover would be to secure a strong Australian position, and I agree that it is an important difference which should be factored into a comparative valuation. Would it make it worth 10x the per foot value of Peloton? Who knows. The real question is whether the cost of acquiring the remaining 77% will translate into corresponding profits, keeping in mind that their 22.9% was acquired at costs much lower than the current SP. Maybe it will, maybe it won’t, but time will tell.
CAN Price at posting:
$2.96 Sentiment: Buy Disclosure: Held
