Daily Price Movement / General Discussion, page-44973

That's basically what I was saying the stock market is a voting machine and while Mado and PMF were arguing on fundamental basis that APT was worthless they were in fact correct but there was a whole Legion of new investors with no idea of fundamental values that jumped on the momentum train and then it became a self fullfilling phropecy.

The SQ deal came along at a time when SQ needed a distraction from their own absymal performance as cash ap had hit a brick wall in organic growth, hence an all scrip deal to buy APT overvalued paper with their own overvalued paper.

The market is now evaluating this deal and punishing SQ appropriately.

Your observations of missing out on a 14 bagger are of course correct, but where you go wrong is expecting this to happen again any time soon, as it will take a whole new generation of investors to fall for these smoke and mirrors companys again as most of the current crop have been badly burnt.

The bear market will probably end in mid 2023 and good gains will be had from profitable companies trading on low multiples as markets tend to overshoot on the downside having overshot on the upside and do not be surprised to see PE ratios of 6 or less.

But no hopers like BNPL will probably just dissapear or trundle along the bottom until they can generate vastly reduced losses and a path to profitability but even then do not expect them to be valued at more than 15 times NPAT

Zip will probably have 3 x shares in issue by then so it will be a very long time before you see sustainable growth in the share price if it's still in business which I very much doubt