Great article, Adm1. I am not 100% sure that they have passed stage 2 yet. Perhaps the January update will confirm it one way or the other. If they post less than $50M ARR in January, how low will the share price go?
The under-performance of LVT this year could be due to:
1. Investors may think that the September quarter weakness is going to continue.
2. Continue to buy businesses which may be over-priced.
3. More capital raising considering the way they spend money.
4. Why hold on to some under preforming stock when many loss-making companies are doubling or trebling in price?
5. Shorters are attracted to this stock. They must see some weakness that is not yet priced in.
I was planning to stay invested in this stock for 2 years (till at least June 2021) and I don't think my investment thesis has changed. It is just not very heart-warming to see a company with such great potential going down everyday.
Anyway, have a safe and happy holiday and pray for a good January update.
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