Do they even report in the first FY when they listed after June 30th? I dont think its anything to do with bad earnings. The earning were already spelled out in the presentation. They're not making any profit and a business that cant make profit is a money pit until it does.
Because of this and the fact that the IPO takers are already in free carry, its probably more of a liquidity risk right now rather than anything else. It just needs more volume before it'll blast off again.
Do they even report in the first FY when they listed after June...
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