It still amazes me that people are getting excited about this stock, its way overvalued based on the Australian performance to-date and given the CEO is extremely vague about facts and figures I cant help but feel every time the market seeks some basic information about the performance we get smoke and mirrors in the form of another marketing piece about yet another new Nearmaps product, rail, solar, real-estate, space exploration...
In the words of Jerry Maguire, show me the money! What has been the result of all these new product launches in sales and more importantly profit?
I'm not sure how many more times you can spin the same product story without actually providing some information about the result. As an investment club we now have a game to see how many verticals we can add to the word Nearmaps without seeing a return.
Maybe why Wilson bailed??
PS: I'm guessing the US test flights will be another exercise in marketing spin but when will it hit the bottom line, a year from now, 5 years from now?
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