I had a bit of spare time so I thought I would do a little bit of digging here. As I said earlier in the TA thread, I'm finding it hard to calculate a market cap and project an upside so I decided to compare apples with apples. As others have stated before, our closest competitor and best comparison is TGN. I'm not a full bottle on the TGN story but as far as I can tell, they're nowhere near production and are having regulatory problems (please correct me if I'm wrong and add any details you may have on the TGN story)
Regardless, TGN's market cap is almost triple ours and at one point, hit more than 300M.
I'm still not sure what the catalyst was for TGN's price rise from the December 2017 lows to the April 2018 highs...? However, the MC of TGN jumped 500% in 150 days, from a similar level to where SEI sits today.
What I now find interesting is the price divergence between TGN and SEI, you would expect two miners mining the same product to be more correlated. I suspect (IMO) that money is flowing out of TGN and into SEI.
Before doing this analysis, I would have laughed in the face of someone telling me this thing is going to 25c but now that I've put it into perspective, I believe 250M is a realistic market cap.
SEI Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
