Absent of WHA getting any form of SAMR approval for its primary pending application (natural cows milk infant formula) does not make WHA jack all as it has other market presence, albeit emerging and small, and also it has a clever organic milk play in motion that will take longer.Talking of SAMR approvals I thought BAL was currently chasing China for organic IF, BUB was currently chasing China for goat IF and WHA was currently chasing China for normal cows IF. This is the here and now plan so it puts aside any future aspirations for other products.
Secondly, of these, BAL is the least at risk as it has a revenue base independent of getting its SAMR approval. BUB is the next least exposed and WHA is the most exposed. Flipping this to look at it the other way...WHA has the greatest upside in share price with BUB potentially second but BAL could out perform both of them based on its brand name and broad market appeal that the others have yet to secure for their own products whether they be based on natural cows milk (A1/A2 protein based), goats milk (A2 protein only) or organically approved natural cows milk (A1/A2 protein based).
None of them are golden tickets either. They all carry risk and they are all a punt on a consumer market shrouded in mystery and mystic as to buying behaviour and how to capture it. None of them are yielding stocks so the punt is on the capital improvement of the share price and every man and his dog is chasing it, many others also think one of them is the golden ticket.
