Expect a rerate, page-12

If you can't find a better investment than A2B, there is something wrong with your fundamental and macro analysis.

It is a terrible business.

Extreme competition, compressed margins, no government support (actually to the contrary the gov is against them reducing what they can charge), making heavy losses to cash available.

There is no upside, it is a withering mess and this is reflected not just in Australia but worldwide. The taxi industry is dead in it's current state.

I forsee an eventual insolvency event with subsequent private purchase of the company for cents in the dollar (of which only debtors are paid, shareholders get nothing).