The valuation of SWF doesn't seem to make sense to me when you...

The valuation of SWF doesn't seem to make sense to me when you look at the kind of money competitors are spending acquiring customers here, whether through acquisition or organically. For example, if this article is correct, eToro spends $20m per year on marketing in Australia. So far, it's had 124,000 accounts that's ever been funded or made a trade. That's less than what Selfwealth has achieved. Stripping out SWF's cash at bank, the entire company is valued at less than what eToro spends a year on marketing. No wonder Stake tried to gobble up SWF earlier this year.

https://www.capitalbrief.com/article/etoro-tips-online-trading-ma-defends-marketing-push-ccd92bd0-606e-436f-a373-3b252d3e245f/preview/