Bell Potter and Canccord have without doubt had a few duds.. but have taken this for a few reasons: 1. Too many retails and basic S708's were taking IPO's left right and centre then dumping them first day as IPO market was soft. Many of those (like I feel above) will stay out of this and I have heard some clients have been blacklisted by those brokers 2. The EV is 86mil for a bio that is already making revenue with good growth, 30% FY20 - FY21 and looks like FY22 will be event better and these have been COVID impacted years! Well aware making a loss but that is what happens in this area initially. SO EV could be like <20x revenue by end of this FY. I will take that in this space. 3. The funds that have invested seem to be well known and respected.
