I think the risk comes down to execution. They need to keep...

I think the risk comes down to execution. They need to keep investing in new features, think of new brilliant things/reasons for clients to stick to their subscription product, and deliver a platform that can handle more traders and bigger volumes. Their on-boarding process is a bit slow but understandably no-one foresaw this level of demand for a small business.

Maybe one benefit not covered is that financial advisers and institutional clients are always looking for execution capabilities. Once you have a couple of dealer groups and fund managers use your platform to trade that's a very big amount of sticky money.

I would salt coat this with at the end of the day its a 50c disruptor stock. I have 6,000 shares... if it's a 10- or 20-bagger (or even the next Afterpay) that's fantastic. If it goes to $0 no biggie. I've gone into this with a balanced view.