KGN Charts, page-537

1. No point of comparing KGN to a $70 stock in a different index that has nil/negative EBITDA (Afterpay).

2. KGN's current SP should take into account potential opportunities for accretive acquisitions, to which it can appropriate over $100m given current cash at bank.

3. Whether KGN can maintain COVID-level revenue post-pandemic is a moot point because the long term value of COVID on KGN is the mandatory redirection of consumers from brick and mortar retail to ecommerce, which enables KGN to raise brand awareness and build customer retention. The short term value of COVID is increased revenue and earnings MoM.

So, I think the important question for long term holders is can KGN upscale to a company like JBH in revenue and earnings. I think so, because of the capacity for accretive acquisition and expansion into verticals, and consumer shift from brick and mortar to ecommerce. It will take time, but if things keep progressing as they are, KGN will be a $40 stock like JBH in the not too distant future.

DYOR