airbus330 wrote:I'm not drawing a direct comparison between the two businesses. I am drawing a comparison between the way that they have, for reasons that are similar, become darlings of retail investors, many of which are new to the game. The similarity, admittedly via different means, is the ability to generate huge gains very quickly. You only have to look at the SMT chat board on LSE to gauge that there are many people treating SMT as a speculative play and they are nervous. All I'm saying is that this might cause SMT to become oversold and it could become a good entry point for investors.
But SMT's premium/discount stays within reasonable limits; there may be a few percent of "enthusiasm" or "dislike" involved in the price movement over a week or two, but in the long term its price reflects the NAV, rather than being a speculative play dependent on enthusiasm for SMT (and the NAV is determined by far larger trades in its holdings). And there's been no huge rise in the volume of SMT traded: https://www.londonstockexchange.com/sto ... ap?lang=en