Jul. 2 at 11:45 PM
$PAPL 's upcoming earnings could highlight a major disconnect between the stock price and its underlying treasury value...
using the May 31
$INJ.X close of roughly
$6.53 and the previously disclosed 7.56M INJ position plus cash/stablecoins, Pineapple’s DAT/NAV could screen near
$69M, or about
$2.65/share at 1.0x NAV. That compares favorably to the current stock around ~
$1, implying the market may be heavily discounting the reported quarter-end treasury value.
Importantly, that framework gives no credit at all to Pineapple’s underlying mortgage/fintech business, which could add further upside if investors begin valuing the company as more than just its INJ treasury.
