The aim of the Glaucus report is to shine a light on Blue Sky's practices. Blue Sky fell for it.
As an example, Glaucus says Blue Sky values Beach Burrito at ~$60m. Blue Sky says this is incorrect as we have it at ~$20m. Blue Sky rebuts the Glaucus accusation but the Glaucus peer derived valuation is implied at ~$10-12m max. So Blue sky is still overvaluing by 80%+.
The aim of the Glaucus report is to shine a light on Blue Sky and it has. Increased scrutiny from now on.
BLA Price at posting:
$10.40 Sentiment: Sell Disclosure: Not Held
