Maybe it was just sold to dear into the IPO? The value of an organisation is not just influenced by the size of the company, but by its earnings, its (perceived) earnings growth, by the risks which might impact these earnings in future and by the opportunities which might increase them. Other important factors include the value of the organisations assetts.
To make it worse - the share price of any organisation has often little to do with its value: Shareprice = Share value +/- hype (which can be substantial).
Anyway - I think that at this stage BIN still suffers under mainly negative hype overlayed with some BB jitter. Nothing has changed to the value of the organisation since the DIDO announcement - what we see currently is only hype jittering up and down (as it would do).
Not sure I really like the BuyBack (there are many exxamples where this measure didn't improve the SP - at least not in the short run), but I do think that the share is more worth than its current price.
Forward PE (based on analysts consensus forecasts) is 16.5. Not too flash in itself, but in combination with an earnings as well as revenue CAGR of around 50 does it make the share look pretty cheap. Obviously - this is only if they manage to keep growing. Add to that tangibles of more then $1 per share - and I would value them at this stage well above $2 per share.
And whatever it is worth - current analyst consensus on marketscreener (
https://www.marketscreener.com/BINGO-INDUSTRIES-LTD-34619801/consensus/) is currently $2.16;
However - this is just the estimated "value". Shareprice is something different, but hype tends to fade away.
I think Investors can have a good nights sleep holding this share and just wait for it to live up to its potential.
Traders might have reason to stay a bit more nerveous - hype is not predictable, but it does come and go.
