RE:RE:Bought in todayHi Dunworkin2,
Looks like we should start our own little investment club with BCDude! We overlap in many stocks.
I'm in too with a toe in the water. It's been a bit hard to accumulate the last two days without pushing the ask up. I guess the market is showing signs of coming alive again with growth stocks and pennies.
I certainly like the story here and the fact we're getting shares at about half of their last raise (1.40$). Market seems to be a bit too negative in my opinion about the sustainability of sales in their producer to customer meat selling webasite. As management said in their last presentation, that business is stabilizing around 2x pre-covid levels, so definitely not a disaster that would justify a 50% haircut on the shares. I also like the fact they're expanding their golf-related websites into the US market. Even a tiny piece of that market would mean explosive growth for ecom considering the level they're starting with.
In conclusion, this company is (more than most companies) a big bet on the CEO and whether you trust him to find hidden gems in the jungle of small and emerging ecommerce companies. Let's see what the next 4 months bring. I think he's looking to acquire 2-3 new outfits in that timeframe (accelerated timeline relative to what he had said before suggests he's already well-engaged in the acquisiation process with a few attractive candidates).
All in all, I like the value proposition as well as the growth potential here.
Cheers,
Hen