Agree with all you've said. My point is more that what is baked into SPT's price right now is a lot more froth and a lot less substance than what APT had earlier on. And that's not helped by these advisor and broker incentives. IMO there are a lot of people pushed onto this share that don't understand the market opportunities and risks and path to success like you or I do, that will sell on any moments of weakness.
APT fully diluted at $2 after IPO is equivalent to SPT at $1.10. Options + rights +shares for Afterpay at IPO added to 180 mil, for SPT they add to 327 mil.
Let me correct what I said before - Afterpay actually reached $3 only 2 months after issue, then dipped back below $2 about 9 months later.
I've cobbled together some charts using data from here
https://www.asxhistoricaldata.com/. Seems to be quite hard to find a free charting tool (e.g. Google, Yahoo) that shows price data for out-of-use stock tickers (in this case AFY).
Now I've done the same chart again but multiplied all Afterpay's prices by 55% to account for differences in shares on issue & options.
As you can see $3 is roughly equivalent to $1.65 - so SPT has run to equal Afterpay's average market cap for 2016, in a shorter time too.
