I approve of there US focus over China. China is now hyper...

I approve of there US focus over China. China is now hyper competitive, actively anti any non-domestic production, and a shrinking market. At least with the US, regulation means no outsiders have been allowed to play in that sandpit and the supply shock that rocked there market created an opportunity bubs capitalised on. There challenge with the US is still regulation and being able to afford the promotion/brand building. Their product is differentiated, new, good story (relative to the other US brands on shelf) and Aus is well thought of in the US. Contrast this with China where there product isn’t any different or better than a significant range of other goat formula products (NZ and China goat formula is more established and better), china is over all of AU and NZ premium infant into market at a rediculous price relative to more premium domestic product tht is cheaper - days of chinese mothers scared of chinese IMF are gone. But meh my personal belief is still very much tht Bubs dont have the money to execute there US strategy so heavy dilution before economies of scale allow for positive cashflow. If they make good progress in the US and get granted perm access then I expect they’ll be bought out by a more significant player but not before share price goes lower than were it is today.