If anyone hasn’t read it, there’s a good article on the AGTA...

If anyone hasn’t read it, there’s a good article on the AGTA website by Jennifer Heebner dated 8 March titled “Buckle Up - Japanese Akoya Pearl Prices have Skyrocketed 80% With No End in Sight”, which goes into some of the reasons why high-quality Pearl supply has dried up. There’s no reason to suppose this will change in the short to medium term. So the prospects for ATP depend on whether affluent consumers, especially in China, are willing to pay much higher prices long term. The article suggests there is currently no consumer resistance. So it is probably wrong to draw on history to conclude prices are unsustainable - the demand and supply fundamentals are both unprecedented. And in the current market, ATP should see cash reserves equal its current mkt cap within the next 6-9 months.