Basically just massive growth in the future, actually growing market share in online retail
Also:
Ruslan Kogan - founder CEO - owns a fair amount of the company
Positioned well as low cost retailer.
Profitable every year
Hated by the boomer dividend clientele
Kogan First is going to be great for network effects
I love that they got all that inventory in case they needed it, don't give a rats in didn't turn out perfectly. size of profit in the short term is completely irrelevant for this company, only growth matters. Perfect for forcing out the plebs too so I could buy at these ridiculous prices.
I expect many crashes along the way, but long term it's just free money.
Not that it's it's worth anything but using the most bearish numbers I can personally imagine (Yearly growth of 5% and terminal growth after 5 years of 3%) and cost of capital of 7%. I get a $10.00 value per share with DCF and Discounted residual income model. Bullish scenario is basically the moon.
Risks: Ruslan leaves, war with china, I'm wrong, something unforeseen.
(20min delay)