Well I guess if we could predict when stocks decide to have...

Well I guess if we could predict when stocks decide to have their rerates we would all be trillionaires! My view is that the fundamentals currently would justify such a move, and it is more a matter of when the market decides to take this to a billion-dollar market cap rather than if. Whilst at the current level of revenue a billion-dollar market cap might look a little high, it's obvious the company will quickly grow into it. That's why growth stocks will often get earnings multiples well above 50x, the market is forward looking and anticipating the growth so will often ascribe a higher multiple. When you have high growth, an expensive valuation can very quickly become a cheap one!

I think another half year of strong growth will be the key to really kicking off the rerate as it will confirm sustained high growth, the profitability announcement will also help. A 2RT deal would definitely speed up the process... I'm happy to wait for the price to do its thing so long as the company continues to deliver! As long as we get the latter, the former will eventually work itself out