Agree with all you've said. My point is more that what is baked...

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.