Take a look at the company's EPS and how that was growing in FY20.
Then take a look at it today and what sort of growth is expected.
It really is as simple as that when it comes to explaining where the SP is now.
And the EPS in 2020 has nothing to do with what management was inaccurately projecting would happen going forward. It is based solely on how profitable the company was then vs now.
Margins halving and the market of newborns shrinking will do that. Or do you deny that the company's margins have halved and that birth rates have dropped from 2020 onwards?
A2M has turned a corner for sure, but you are overcomplicating things with your insto obsession. The company's growth rate and profitability now vs then explains probably like 80% of the difference in SP between now and then, whilst the difference in market expectations (including instos) explains the rest.
(20min delay)