I think what's getting lost here (and I get why, this is a pump and will likely be an introspective reckoning of biblical portions for some in time) is that what KNI is trying to do could absolutely be successful, and with the EU carbon border adjustment mechanism (CBAM) that will come into force, it could be very well positioned just like VUL. Think about the implications of the CBAM and the EUs sustainable financing framework; they will become material considerations.
The pump has been massive, and will likely cause SP chart to turn into a parabola. BUT at 90m, with VUL expertise on board this is far from outrageous in today's market. There are so many companies, without good ESG credentials or revenue, worth more. I think it's an intriguing IPO. One that will likely go south at one point or another (maybe tomorrow) but still fundamentally an interesting proposition.
KNI Price at posting:
$2.17 Sentiment: Hold Disclosure: Held
