Hi GKatt, it's a great question. Your guess is as good as mine, the ASX is a funny place.
My thoughts? First off, Global Macro, interest rates & cost of living affect the speculative market & the stock market just in general.
In saying that, when I look around on the ASX I see companies that have never turned a profit with a MC in the hundreds of millions. AKP is one, it's never produced a marketable product in 20 years on the ASX or pulled in any significant revenue, but it has a MC of $200M. WBT is another AI stock with a MC of $700M.
BRN (which I haven't followed very closely) hasn't turned a profit in years & just recorded a half-yearly loss of $17M, but it has a MC of $650M.
Above are just a few examples, but I know there are many more on the ASX. Why the above have a MC in the hundreds of millions & W2V only has a MC of $10M is beyond me!!
The previous T20 dumped this on IPO, so it's taken a while to recover. It appears Amos has gathered a loyal T20 following this time around. I've noticed a T20 holder called "Ice Cold Investments" in Thorney is also in W2V as well. So hopefully, Thorney's pulling power can draw in other investors. Thorney supported W2V before it was listed on the ASX.
Below is from the last Quarterly.
Below is the website for Thorney.
Thorney
I think the ASX needs to wake up to what W2V could look like in just a few short years. What is a fintech company worth with AI technology? Judging by the examples at the start of my post, a lot more than $10M is my guess.
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