Ann: FY20 result - ASX & media release, page-19

I don't know whats there to like about this valuation. The report was so unflattering and there are so many clues about how it plays out.
Fundies are blatantly ramping this stock and if they have a decent quant on their team, they'd probably say its a "sell" for now. But it doesnt pay to put sell rating on their key stocks in the fund.

There is a clear disconnect between business and valuation. A total suppression of capital in this stock. There are so many 100% growth opportunities out there with an incredibly manageable sharp ratios. A tactical investor knows that already.

That capital raise was so unnecessary, and if things are this rosy as they are trying to portray in the report then why was it raised in the first place? Debt looks manageable as it does not have to be paid off in one year.

I'm aghast to learn now that dilution at such steep discounts was unnecessary and revenue growth of 20% is looking super bleak.