Perhaps he thought it was worth $300m at its present position. Realising it was floated at $20m he knew there was an urgency to buy as much as he could before the rest of the market realised what it was and what price it was being sold at.
it’s a bit like finding a city where they are selling $300,000 houses for $20,000 ea. I wouldn’t be quietly accumulating them - I would buy everything in sight as fast as I could.
Just my take - hope I’m right too. IPO shares on this were the sale of the century. Wish I subscribed to 10x as many.
Perhaps he thought it was worth $300m at its present position....
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