Two other aspects are the size of the investor base, and attitude to risk/high growth companies without revenue.
The US market is just so much bigger. If we didn't account for differences in attitudes, we'd find many more long term holders like us, perhaps enough to drive the price higher without other investor segments needed.
Regarding attitude, the US market had fareass fear backing growth companies. Amazon took 7/8 years for a profit. There's plenty of examples. I think Aussies prefer to follow... Whilst we have great science in this country, we've always fallen behind at commercialisation (see Ever The Clever Country by Harry Kannegeisser). It's a shame... We could led the world in electric cars, but sat with what we knew. We could have led with renewable, but keep pulling coal from caves. Unfortunate. The US has these groups too, but the sheer size allows smaller pockets of innovation to have more strength.
So to add to Dougs point, when we link to this type of market through a dual listing, we free ourselves of local mindset constraints.
CDX Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
