Still a long way to go up in value. In 2013 there were a third of the number of shares on issue as there are now, in 2020 there were a bit more than half what there is now (around 660M). So the 22c price in 2020 was a higher market cap than the stock has now. To hit this market cap the price needs to reach around 13c. To me this is not just do-able but logical. The stock now has so much more fundamentally going for it than it did then, and a huge upside story ahead of it. The fact that it is now generating revenue after only a few short years in the US and about to break even any time now is incredible and testament to the fantastic vision and work that the team have brought. This stock compared to the 2020 version is chalk and cheese, the market cap will grow to reflect this.
At a meeting in Brisbane a few years ago Nicholas Smedley said that he could see RSH being a $500M market cap company and I think when you look at the patient projections and the revenue per patient this is absolutely possible - in fact quite realistic in a year or two's time.
This current rerating of the stock is fantastic, as are the patient growth numbers and the current pipeline of growth - but this stock is well worth 15c and above. Half Full says $1, and I would love that but there are a lot of shares on issue now - I think 50c would be a good first target. Not going to quibble though - bring it on!
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