Michael Frazis wrote an excellent apercu re the problems/risks w/ Firmus (as a business as much as a stock). You should all read it: https://t.co/lTyBQ3X546 I will try to add my perspective. I have no prob w/ ppl getting rich, or capitalizing on innovation. Prob here is this deal seems so clearly destined to blow up, a ton of retail baggies will inevitably get destroyed. Prob is the biz model (as Frazis outlines) demands a YUUGE amount of follow on PRIMARY capital over next 1-2yrs (and longer). They are raising $5bn USD now but will require maybe 7-10x that, over next 1-2yrs, to fulfill their nos. Even if generously 70% of this is debt funded (good luck!) you're looking at (by Aussie standards) insane capital demands - inelastic to price - over next 18months. Maybe 3-4x the IPO in terms
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