Surprising that it's bounced so hard - however I'm happy for holders who have experienced so much pain.
Looking at the numbers, they generated $76 mil in profits in 2H2023. It's generous to assume the profit will be $152 mil for the next 12 months - given the starting FUM half on half and sharp reduction in profitability each period.
Even if they generate $152 mil in net profit - the current market cap is $2.14 billion based on 208mil shares x $10.33 per share. This means it is trading on 14 times net profit - which seems a very high multiple for a rapidly reducing profit.
Simply bizarre IMO and I'd say the current price already bakes in a sizeable recovery in FUM.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)