never said it wasnt.
ill ask again, would you pay $3.3bn for $11m annual profit?
ROI? pfffttt....now lets divide the whole $11m into 118m shares (100% payout) = 9c!!! 0.3% yield!!!
how will this change? if margins can improve, others will come in. Bringing this "type" of furniture/goods is NOT unique. China/Vietnam/cambodia sourcing is growing daily, 1bn ads on FB etc selling furniture direct - why do i need an overpriced intermediary?
"furniture from wherever" plays are a dime a dozen. this mkt will fizzle due to growing competition from everywhere.
the P/e and fwd p/e on this "thing" is UNHEARD OF. This is another "afterpay phenomenon" without the afterpay "growth" or "glitz". at least harveys, nick scali, whoever have property to back them.....what does this have?
another one for the "mkts insane" bucket......well done to holders though - dont begrudge any1 a dime.
good luck to all those that have made a fortune. i wouldnt touch this with a ten foot pole, considered it at $3, mug for not doing the "afterpay" gamble but looked at the financials and thought - no way!
boy was i wrong at $3.
but now, at $28-$30.
tell em theyre dreamin son.
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