I'm on the fence with this IPO valuation and happy with my level of exposure to the company through BTI.
Cons
1) 12.5x revenue is on the higher side - why not ask for a lot in a hot market?
2) The current revenue model has a low sensitivity to whether people travel or not. It isn't like an airline or hotel. So I don't see huge upside potential for the revenue.
Standout pros -
1) ARR combined with a sticky product.
2) Global reach
3) Short term growth possible
4) Positive macro trends - wealthy middle class
In summary, if it drops within a couple of months/weeks to my perceived fair value target then I will buy more. If it increases then BTI holders will benefit anyway.
I'm on the fence with this IPO valuation and happy with my level...
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Last
$1.03 |
Change
-0.010(0.96%) |
Mkt cap ! $153.0M | |||
| Open | High | Low | Value | Volume |
| $1.04 | $1.04 | $1.03 | $19.08K | 18.48K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 46864 | $1.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.04 | 21266 | 2 |
View Market Depth
| Last trade - 15.47pm 19/06/2025 (20 minute delay) ? |
| BTI (ASX) Chart |