Gobbie could ultimately be right if this is the final CR and Simon & crew can continue to grow ARR and make SPA profitable. That's not likely to happen overnight (much to the disappointment of many here on HC) but quite feasible.
My biggest concern is Thorney having such a large portion of the SOI, that they can pretty much make the call should there be a takeover bid. I don't know their average buy in price but with this raise and the 2 other most recent raises, that average price would be now low. If you add Thorneys stock to a few others that can be spotted in the T20 that have also lowered their average prices notably. Any potential take over could be a done deal at a low ball price, making them (along with directors) a nice profit, whilst myself and many other long term holders would end up being forced into crystallising massive losses.
SPA Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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