No sympathy for those that invested in the IPO - you had to be stupid. All you need to do is compare Moa to Tuatara:
Tuatara (~$14mil value):
- 1 million litres per year
- Very good product
- Extremely good following, particularly in Wellington
- Respected by craft beer community
- Small marketing budget, company is growing by reputation
Moa (~$45mil value at IPO price):
- 1 million litres per year
- Product is generally mediocre. Some of their beers are very good however.
- No brand following
- Generally hated by the craft beer community
- Huge marketing budget driving growth
Despite Moa's big marketing budget, they didn't even have their own stall and had only one tap on at Beervana. It would appear that they don't even care about the NZ market.
Get out while you can.