My point is your current view is $1.70 represents value right now - even though this value (on acceptable PE's) won't be realized on your estimates for more than two years even without a discount being applied for investment.
This is a 'Bubble' industry. It will end in over supply.
Those who strategically invest without over capitalizing will be winners at the end of the day.
Who knows what will happen in the next two years. A2M may make investments and penetrate markets which lay the foundations for valuations that are many multiples of what they are now. It might also get squeezed out of the race by someone who decides to make a disruptive play.
BUT - to place comfortable valuations on things in an industry which has so many variables which can impact it is pure GAMBLING at this stage.
If A2M was good value at $2.30 then it would not be $1.70 today. If it's good value at $1.70 today then it won't go any lower.
A2M may get to $10 one day - if so I hope I've made $50 per share out of it at least.
Peace
A2M Price at posting:
$1.71 Sentiment: None Disclosure: Held
(20min delay)