Originally Posted by
Ogg
It never had a mojo!
It was a cookie cutter app that almost went bankrupt had it not found some weird and obscure niche.
It then rode the SaaS growth wave of the last decade, showering investors with the promise of huge returns.
The founders and seed investors bailed out left, right and center, cashing in on huge gains and making them millionaires overnight!
Covid hit and they flipped that into some kind of "opportunity" which has yet to materialise.
To make up for the lack of innovation and growth they've made dubious acquisitions while management has churned.
On the brightside, there is a business here, but a very small one at that. Maybe $200m would be a fair valuation. However the sharemarket always seems to overshoot the positives and negatives.
I see this drafting down to $1, unless it's saved by going private or merged with another "growth story".