Ann: User growth and activity levels drive record SaaS revenue, page-2

My commiserated 2cents.. It seems as though we are in a crumbling holding pattern with the market not willing to drive the price up in anticipation of a binary event, i.e. the cardhero product delivering on what has been talked about for a few years now. One reasonable probability is that a CR participant is slowly exiting with the aim to not crash the price too hard.

Right now the investment thesis relies on 'hope' for a cardhero client adoption, and hope is a poor methodology for making money in the market. The $31mil market cap and $2.9m ARR is starting to unwind the share price. Considering the very (very) small on market share purchases management have made over the past few years, there is little positive sentiment to discern from the surface. Below the surface it would seem difficult to get a feel for commercial interest in the cardhero product.

Technically we're in a support zone and showing some signs of lower price rejection with the supply curve flattening out. The character has changed and the upwards momentum exhausted. Profit taking, cheap shares for instos (to flip) and lack of fundamental follow through is what's left on the table.

Personally I will spend an evening and revise my thesis and possibly reach out to investor relations with some questions. This has been in the bottom drawer and while I am sitting pretty enough, I don't like to give anything back. The difficulty is that the chart shows a make or break moment (to my eyes).

Interested to hear the thoughts of others.