What are you talking about ? Nobody is expecting them to make a profit in the next 3-6 months, that's not the point, or they are delusional. When I got in the market cap was 280m$ for a company that, last year, has been generating 900m$ of revenue, 64m$ of profits and almost 25% yield of fully franked dividends.
The market was obviously pricing this for bankruptcy and the combination of the jobkeeper allowance and this program is just what they needed to survive and hopefully got back on their feet 2-3 years down the track.
I don't expect this to shoot up to 2$ on open as they are still in a worse position than before the virus. IMO it will settle in the 1.1-1.2$ range for a while until the situation improves. The play on this one was to get in real low and hope for a 4-5 baggers in the same amount of years.
GEM Price at posting:
$1.08 Sentiment: Buy Disclosure: Held
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