SHare Purchase plan at $66 tomorrow Or Buy at Market, page-168

Very poor counter/analogy.

Poseidon discovered a nickel deposit & was pre-revenue & based on a commodity price boom - fairly different circumstances. FY21 Afterpay will likely have revenue of +$1BN - may even turn a profit, but may not.

Hard to value sure - in a bubble, maybe, maybe not.

Here's the thing (this has been my theory since early 2018) - Paypal will buy Afterpay or Klarna - to give it a post-payment genuine popular financed option - gives their 350Mn customers instant access to a second or third payment option, increases their transactions & fees & potentially margins ...