ValuationThe problem here is that a company such as this is impossible to value. Our typical metrics for reasonable value rely upon a predictable source of income going forward.
For those of us who love the company, the argument is that the 20-30 million of one time money we expect to be in the bank at the end of 2021 will be put to good use to expand their bread and butter. And given how effective this team has been, every dollar in, we expect 50 cents back out. Annual net incomes of 20 million and market caps of 500 million are within reach.
For those who don't love the company, that 20-30 million is dead money that should just be put out as a dividend, so the company is only worth that 20-30 million (with the core business having only a small value on top of that).
The truth will be somewhere in the middle. Maybe that 20-30 million won't be put to perfect use, but it won't go to waste either.
But this stark contrast in possibilities feeds a bipolar cycle where swinging from optimistic to fearful happens very easily. I used to love lurking here and seeing the factual or thought provoking posts by Torliff, shaker, relience and others but those are so crowded out now.
I honestly don't understand why those who don't like the company would even take the time to come here. I can't imagine a world where I would use my time researching stocks only to post about the ones I don't believe in. I guess discouraging (read 'eye opening') other people is what some people do for kicks.