Extremely highly valued. This is principally a services firm - common trading multiples are considerably lower - this is trading like a hot tech stock and it is not. The quality of the companies they are buying is what I call mixed. Seems to me they will use this highly rated paper as fast as they can to fill the valuation gap.
Pricing this as if it was a SaaS company was a mistake... it is a services company. It is now below the issue price and having looked at the fillings, it is also below the price they issued stock to buy the last company's. All in all - a tricky situation. If there were institutional investors involved then this may be less volatile - but with retail investors only - it "may" weigh further on the stock.
O
Good luck!!
M
I took a quick look on the website. I worked two years as information security analyst and am not impressed. I ask you to take a look at the website. do you think have a large menu increases value for the customer when the customer tends to be the IT department that is highly technical and knows what they are looking for in a service? Do you think that regularly earning less than 10 likes in their social media posts means they have a good social outreach and respect? how about the staffing, are they running appropriate number of staff( which costs money) to offer this expansive menu of services? what do you think is happening at this company? the chance that this is a wonder that will increase five-fold is a laughably small fraction. move on, I say, and don't waste your money.
potential move like CISO
Best in class 2022
Stock is now down to $8.15, off 40 points = -83%.