I believe 60c/sh was just headed towards a healthy multiple for...

I believe 60c/sh was just headed towards a healthy multiple for a fast growth company in a globally booming sector. I don't think that was overpriced or over-valued, at all. There are hundreds of stocks on the ASX valued $500m+ (and even $2-3bn+) on no revenue but positive expectations and understanding by the market pricing in future cash streams - it's called discounted cash flow. VMT @ $110m MC is not even in the game or even close to it. Insto's couldn't even value VMT proprerly and if they were engaged, they would be hammering VMT management for provide proper disclosure on forward-looking information. I would understand if VMT was something new or a start-up that was poorly understood, but VMT has been around for decades in a well-understood booming sector, and substantial time under current management.

re cherry-picking - If you show the whole picture, by definition you have not cherry picked anything at all.