Are you kidding? The company absolutely deserved to get...

Are you kidding? The company absolutely deserved to get pummeled. When they were hit by COVID it exposed all the weaknesses in their strategy, over reliance on daigou, poor inventory management, and hubris by Peter Nathan etc. which led them to think they could just throw more money at stimulating daigou which was a lost cause. When your revenue and profit plummet, it's inevitable that the SP will follow.

Enough with the 'insto' rubbish and face up to reality.

There were lots of headwinds out of their control, like COVID, falling birth rate, domestic competition etc. But at the end of the day it was the fault of poor management. You know how I know? Because the new management essentially came in with most of the same headwinds, but they were able to turn the ship around and return to growth in spite of these factors.

If you blindly blame every bad thing that happens on these vague and mysterious insto forces then not only are you in complete denial about what the company has done wrong in the past, but you will also fail to appreciate what they are doing differently now and the new potential for growth that this has created.