Yes, for those who are unaware, that was the period of optimism leading up to the announcement in June 2021, of the failure in reliability testing of the first laser doides, and the subsequent resignation of Giles Bourne. Back then the company was dealing with a lot of unknown unknowns.
A lot has changed since then. The unknown unknowns have mostly been converted into known knowns. With Jim Haden coming onboard and the acquisition of the Fremont fab, the level of sophistication of the company has increased by an order of 10. I believe the beginnings of this shift can be traced back to Jean-Michel Pelaprat joining the board in May 2021, just before the reliability issues came to light.
There is actually far more reason for optimism now, than back in 2020 - early 2021. However, investor confidence remains low. A case of once bitten, twice shy. By rights, with a positive announcement, one should expect the SP to re-rate to well above those earlier levels, as it would have done back then. We could see a 5 bagger (from current levels), perhaps even a Disallowed.
Hopefully we will soon find out.
NB: The above post is opinion only, and should not be construed as financial advice.
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