AD8 TA, page-104

It's broken through a key support line (see below) so expecting further weakness to around ~$16.5, great buying opportunity in that range for the bulls.

I'm watching for now, the valuations are a bit rich given they only generated $1.9m in cash flow last results (see below reconciliation excluding the raise) and for a ~$1.5 billion company that means we won't see a dividend for many many many years if not decades. And there's a few US companies with deeper pockets that will probably outcompete in the industry so the risk is high here for the price to pay. Even if the company grows 10x in revenue (at the current ~22% EBITDA margin), the dividend would be miniscule compared to the market cap or share price paid now. So makes sense there's profit taking / sell off, particularly since the last investors bought in at $13 for the $70m raise.

Interesting to watch though.