Why SWM is worth more than $1.50 per share, page-345

I no idea lev. I watch share fall almost 50 per cent in 1 year from 27c to 14c which huge fall. Ad market advertise and linear tv have continued to decline far more than I expected.
meta deal collapse mid year and gambling reform still likely in future which will not help advertiseing revenue.
now some strong positive appear finally as high price mention in recent post. I still skepticism about the meta tax as they history of avoiding but Hope high price is correct.
the enthusiasm of high price valuations are complete contrast to the 3 recent broker valuations by goldmans , ubs and Morgan’s of 13c , 14c and 16c value so nothing make sense to me.
current pe is around 5c so look crazy cheap but market has always been right and huge selling still at all price points which not make sense if valuation should be 10 times higher.
I very confuse as even considered all above negative it still profitable be that I expect another large fall profit this year again but very undervalue at current price even allow for this