pump and dump or bull case?

okay, so great news for us holders today and a nice little opening run. here's my thinking, keen for others inputs:

case 1: my old grump cynic where i've seen this too many times before: we should expect a capital raise soon, and this "announcement" is the them playing the old pump game in order to raise some much needed capital to cover the other issues across the business. how can they think entering the market as the 25th BNPL player at this stage is a good idea? on top of that, we've seen literally hundreds of millions of dollars flow into other players to try to build these products, so MME is going to need circa $100M-$200M to compete, and thats just in australia. not to mention the others still arent profitable. so MME are launching another product, which is going to needs huge amounts of capital, which they dont have, which will be loss making for years... hard to see this ending well for us shareholders, except dilution and losses for years to come now.

They might need another $50M for their warehouse, and this is a very cycynical way to go about raising that capital to fund their core business.

case 2: very smart move, picking up on the current investment bubble in BNPL, and they can use this run up to raise the capital they need, and this will give them the capital boost to finally get a warehouse over the line for their core money making products they already have, without a warehouse and funding they were in trouble, so its a very clever move into this space. they might even think they can really making money off it, and build another channel for them and their high interest rate products. could actually work, especially if the market gets really excited and pushes them up 200-300% quickly just on this news alone.

am on the fence whether to believe this move or not. what are other views?