I agree completely. For me, ATP has the following going for it:...

I agree completely. For me, ATP has the following going for it:
- No debt / high cash balance / high FCF yield
- High gross and net profit margins, with both likely to expand given increased focus on the DTC sales channel
- Huge demand, particularly from China - driven by multiple factors, including, booming luxury sector, greater adoption by men, and increasing demand for physical assets
- Very high insider ownership
- No analyst coverage (not yet on institutions radar?)
- Low P/E, with high return on capital and assets
- Company looking to expand production, through new farm, new vessel, etc in a world of rising per unit pearl costs
- Dividend established (they just now need to demonstrate go forward stability)

Primary negatives/risks:
- Pearl size issue - I sincerely hope that this is a temporary setback
- High SOI
- Uncertainty around near term pearl demand

Right now, for me at least, the upside massively outweighs the potential downside. With the amount of speculative rubbish on the ASX around this market cap, I feel a lot more comfortable owning a profitable, growing, strong margined business, with very strong insider ownership, such as ATP.

NFA, DYOR