IPOs are often done when the sector is hot. 2020/21 was hot for all sort of tech stocks, especially fin and bio techs. All of them, if not producing any income, suffered a huge sp decline, often down to 95%. Some survived and many of them have recovered a good part of their losses. Unfortunately not the 3 one I hoped to come out winning.
Anyway, 3 years ago W2V and other fin-techs were valued purely based on hype and everyone, small and big investors, threw their money at them - hence the high IPO valuation. Then the interest cycle changed and it all came crashing down. Investor hype and greed pushed it up, fear tore it down - nothing ASIC had to investigate, simply market forces working at their best in overshooting to both sides. All that hype is gone, the small fin-techs must demonstrate their value and that is by becoming CF+ first. If achieved over, let's say 4 consecutive quarters, the market will start applying forwards valuations.
A long way but that's how it should have been from the beginning. 0.1c on day 1, not 20c or more.
If the quarterlies meet the Amos forecasts then the sp will climb. If not, the game is over. That's the risk we take and took.
GLTA
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