It's a short on valuation/business risk, but I bought some. Low liquidity, a PE selldown from a mob that does more than its bit to feed the street = plenty of fawning broker coverage and everyone swimming in unison to get it into the index. It'll work until it doesn't. A pump is a pump, right?

And that is the reason I'd never short anything purely on valuation.

Taking a guess at SP in 12 months, my guess would be somewhere around where it is now – but I would be inclined to think there's a reasonable chance of the price going above $40 just because they probably have some good news ready to go in their backpocket. From memory, $28 or thereabouts is where index inclusion happens.

I think the dump onto retail has a very long way to go... According to market index 85% of the shares are held by top 20 shareholders. While it is so tightly held the share price will remain high. Great IPO strategy by GYG, make it exclusive and keep it that way until it is strongly free cash flow positive therefore keeping share price high for cheap raises and allowing original investors to slowly take profits. If it never makes it to that strong free cash flow point at least the original investors get to take some profit while retail is left holding the bags.