Hi Crestzest,
I am 100% in agreement with your points, especially around the markets appetite for risk today. In fact one can argue that VGW isnt as risky anymore given its outstanding performance and track record year on year.
My view on what will drive the SP higher is as follows:
1) Continued Growth (Revenue, Profits, Customer capture & retention, etc)
2) Future proofing (More sources for revenue in line with external trends/competitors e.g. Sports betting, acceptance of crypto?)
3) Continuous dividends payout (growth to dividends year on year will be a strong signal to market and attract investors who want dividends paying stock in their portfolio)
4) Increased liquidity - Direct listing on Nasdaq if and when growth slows down; primary markets only allows sophisticated investors, I have friends who are keen to invest but dont qualify to open an account on primary markets simply because they are not sophisticated investors and to be clear most of them are earning well.
5) PR and general awareness is required, During the half yearly, it was mentioned that VGW is performing better than the tech giants COMBINED (atlassian, Canva). I am hoping there will better appreciation for VGW when the official financials get released in September.
6) Little to no dilution. VGW as it stands is a well oiled machine that is self sustaining which has helped minimise/avoid dilution for existing shareholders.
I think lockdown accelerated VGWs growth but should not impact revenues. America is somewhat returning to normality over the last few months but VGW has still be observing record revenues month on month (January, March....we await for Q4 performance) which is quite promising.
I personally will be holding onto VGW for a long time
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