Thanks upside_down. I didn't go fact checking so was hoping someone would find any flaws. However, in this case, within a week of their IPO Afterpay was still trading at over $200M market cap, right? I can't recall when it hit $2 or $3 but it wasn't too long afterward either, so that's what, a $330M-$480M cap? It's not like one was $50M or $100M and the other is $500M. I think what's happened is (1) SPT was priced too cheap and (2) people have obviously seen the trajectory of Afterpay and figure even if this isn't as successful is might still be priced at $2-$3. The question is, IS Afterpay worth $5B? I say that because so many SPT holders use it as the benchmark (I do it myself) but what if the benchmark is overvalued? We've all seen that things can change very quickly (it happened to APT once before, $23 quickly became $13, but that proved to be an opportunity). I can't imagine, having just listed to raise capital, that the SPT isn't going to go hell for leather to grow this thing. The hires they've just made indicate to me they've had the plan in place but needed the money to execute. I still think though that if this had listed at $1.00 and traded to $1.60 then there'd be many more buy/holders vs traders. If it's up 60% believers are happy to hold, but if it's up 800% even believers tend to say it's gone too far too soon. Maybe I'm convincing myself here but I reckon it's more scalable than Afterpay et al and this is only the beginning. I sure wish it went up 5c a day though and wasn't in the headlines so much.
SPT Price at posting:
$1.60 Sentiment: Hold Disclosure: Held
