Fully agree with you about the supply/demand situation. It is a rather unique situation where prices double, while unit cost, at least for Atlas Pearls, is decreasing (cf decrease for cost of goods sold in FY 23, with stable volume of pearls sold). Supply adjustment (to higher demand) will take time, as covid has disturbed the long process of maturation for oysters. China has just reopened, while they are still producing, by far, the highest number of pearls.
The main question seems to be how much Atlas Pearls will reinvest, in the short term, in the production process, both via new boat and a new farm.
ATP Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
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