i can only give my opinion but I think it’s because this business is on the verge of some serious step ups in performance. At the moment on a sum-of-the-parts valuation this is stupidly cheap. The US business is going to really start being the primary contributor and therefore the growth really starts to dial up. I’m trying to put some financial forecasts together that I’ll post in here later, but my draft is looking quite encouraging and there’s a lot of evidence to support the numbers I’m getting. I’m not being overly optimistic on the numbers either. Again it revolves around the US paynow business, but lending is also improving.
On the pump and dump - it’s would be very very difficult for Thorney to get out in a big way now. The stocks too illiquid, so I’d say he’s just very much betting on a turnaround in performance while also dialling up control to stop an opportunistic buyout. This would need to be a couple hundred mil in MC for him to really move anything quickly. With the register this concentrated, a truly opportunistic buyout would be difficult which is good. Stops us all from a forced exit at 12c or something silly.
very cool little rubrics qube this one is atm haha
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