Do they even report in the first FY when they listed after June 30th? I dont think its anything to do with bad earnings. The earning were already spelled out in the presentation. They're not making any profit and a business that cant make profit is a money pit until it does.
Because of this and the fact that the IPO takers are already in free carry, its probably more of a liquidity risk right now rather than anything else. It just needs more volume before it'll blast off again.
Come on finish 1.60 plus, page-27
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