@Bear77 curious to know if you still have the same opinion of Swoop.

It appears to me that the initial run up in share price was due to the board, Tattarang backing, and similar roll-up strategy that has likened this to Uniti (UWL) - as you mentioned.

UWL timed the sale of their business extremely well, getting a peak market valuation of 26x EV/EBITDA

Seems unlikely that Swoop will achieve this. Their margins are much lower - Alex has indicated long term EBITDA margins of 20% vs UWL's >60% and unlikely we will see such good times again in the market for a while.

Feels to me like Swoop is competing in a commoditised market with very little competitive advantage other than capital investment.

I could be missing something? Interested to hear the bull case for Swoop / similarities to UWL