TA Perspective, page-262

There is no secret or magic why the 1PG share price has fallen. The reality is, the equity market is a volatile and risky(excuse the pun) asset class. Shorts...technical analysis...manipulation...insto's covering...bla..bla...bla... If you are long...you have Confirmation Bias...if you are short..you dont care...
The simple fundamentals will only restore sanity when it comes to valuation..
1) Do they have a business model that can be monetised...Unfortunatley..they havent been able to demonstrate this yet.
ii) Will the monetisation result in profit..eventually...Impossible without i) above
iii) Is the business model scaleable...irrelevant if 1) and 11) don't happen.

Who cares if the technology is disruptive if a business model cannot be monetised and produce a profit over a reasonable period of time.

In the meantime...the stock should trade at a marginal premium to cash NTA...but given Im short..do I really care.