It is entirely tied into the optimistic forecasts for 1bn+ in sales... if what Harbour and Goldman are saying is true "if not for the rebranding and transitioning into Chinese label, A2 would have far exceeded market expectations... yadda yadda yadaa" then that $14 valuation would be standing pretty tall...
So it rests on that entirely, was the transition a true interruption to sales growth or is it a front for the sequential growth slowing.
One way or the other it takes one solid report to kick current valuations to the curb as they have done in the past, it is also one poor report from losing another 20-25% of its mktcap... happy holder, happy to buy more around $10 as I am still very bullish on outlook.