Macro is important in future SP appreciation. I base my...

Macro is important in future SP appreciation. I base my purchasing decision around a revenue model and a risk adjusted return on investment that is based on likely future prices to sales multiples. A good commercial deal signed now is worth probably half to the share price than 12 months ago. To get back to the highs of 30c could be challenging in current environment.

if hmd signs deals it should be higher than it is today, however what return do I need to justify the risk of this investment over say sticking my funds in an index fund or something else.