Yes. I spent a little time yesterday going through the GYG ipo...

Yes. I spent a little time yesterday going through the GYG ipo documents for a client. We need that sort of market stupidity to come back for VMT as well (or the market in general) and I'll make an absolute killing.
Hopefully my client will decide not to participate in the gyg inanity. 30+ x pro rata forward ebitda (=BS)... silly. A market that makes a billionaire out of a burrito guy doesn't look too much like a depressed market to me and I can confirm that, by and large, Australians are not struggling at all in my opinion. Plenty of money going into stupid equity (and crapto) speculations still, despite what headlines are trying to make you believe.
They sell bad burritos for f* sake it's not like AI (also BS) or rocket science which is impossibly hard to understand. How can someone seriously think to make money out of a trade like that at those multiples? Lemmings mentality is very powerful and works both ways, I think it is still the best of way of making money (or losing a fortune).
VMT has solid business fundamentals and that's good, but just imagine of the untold riches we could be uncovering with a little help from some good sponsors like those gyg had working for them in whipping up the guacamole...they did a wonderful job a polishing the burrito (tird?).