Fair points. I think margins are declining simply due to the...

Fair points. I think margins are declining simply due to the cost of doing business. It's rapidly growing and it requires a lot of marketing spend to capture market share. Fast growing, low profit companies have been doing the same thing since forever. Why is this a bad thing for Cettire but okay for others? It's already making some money, yet many darling ASX companies don't make anything for years and years but all trade at eye watering levels on a promise.

Concerns around the duties are a concern but it all just seems like hearsay at this stage.

I don't see the slowdown in some luxury brands as a negative for Cettire - I see it as a potential positive. Luxury will still sell and it could have the effect of somebody tightening their belt and instead of buying through the official store, they can get the brand and save some dollars in the grey market. The brands themselves may even "farm" more products to the grey market meaning more sales to companies like Cettire.

Cettire also has reportedly near a quarter of their market cap in cash. Despite the concerns around "increasing costs" for the bear argument, why is their cash level increasing? This has to be worth something.

There are the fors and againsts for every company on the ASX and this is what makes a market. Investing in the market requires risk. Either Cettire is a total scam or it is a screaming bargain. The bear argument for Cettire seems to want total guarantees, but not a single company on the ASX can offer that - not one.