Darren, it seems you have intrinsic value and price confused....

Darren, it seems you have intrinsic value and price confused. The two are often distinct.

Value of Equity can be determined by various methods; Dividend Discount Model, Free Cash Flow Models and/or Comps/Multiples based approach. I'm sure there are other methods, these are the widely accepted approaches.

Pitt St seem to have used a relative/comparable approach. Frost & Sullivan used a FCF approach (a rather high uncertainty approach for a pre-revenue company given the lack of historical data to forecast, nonetheless if you read the report they have justified their growth and discount rate assumptions). Either way both have used some approach to value the stock.

When investors arrive at a equity valuation for a stock, it is compared to the market price:

• On a per share basis, if Value of Equity > Price, investors will deem the stock undervalued
• On a per share basis, if Value of Equity < Price, investors will deem the stock overvalued

I know this sounds rudimentary, and respectfully no-offence you clearly have the two concepts confused when you say daily price is the value.

On the rare occasion, Value of Equity = Price, we say the stock is fairly valued (especially if it's within +/- 10% range of a given valuation). This is rarely the case in the small/micro caps space, as at this end of the spectrum, markets are not 100% efficient. If markets were efficient there will be no incentive or reward (i.e. alpha) for investors to do research to take on additional risk and everyone would just buy the beta, in this scenario all expected positive or negative idiosyncratic price catalysts would bear no weighting (not the case in practice). As a side note, momentum volatility traders are simply riding waves created by long-term fundamental investors who generally have some forward looking view of a stock's intrinsic valuation. This is why when the stock price of high quality companies deviates too far away from it's intrinsic value, the reversal in price is generally strong and sharp as the market acts quickly to take advantage of mis-pricing. We've seen this before with WBT.

If you continue to hold a stock, rationally you are holding with the expectation that the price will appreciate above your cost price (over your investment horizon). The only way this will happen is if the market agrees with your implied sentiment that a stock is undervalued.

Sometimes the trend is your friend, sometimes it's not. Think independently, form a view on your own valuation of this stock and trust your judgement. History has shown us time and again, some of the best gains in this game are made by having a view (positive or negative) and allowing sufficient time to let the market catch up to your view.

I wish you all the best. Good luck to all holders.