RE: True value reality check3 Jul 2023 13:16
My POV FWIW...
IPO @ 500p was supported with business plan and heavy weight due diligence plus a pinch of banker excitement so maybe 450p would have been a realistic expectation at the time. I discount the period of hype and market exuberance at 800p and accept we have fallen short against the plan a few times but this feels more like a timing and macro environment thing rather than a fundamental issue with the plan/management.
Business has grown & matured in the past couple of years, we are nearing the end of significant capex investments/write downs so FCF & Profits from here on could be a sign of some shareholder returns soon.
Maybe i'm too optimistic but 450p still feels fair value to me, i've been lucky to average down and almost in profit now so it will really test my nerve but I have no plans to sell for less than 350p as i'm not too greedy :-)