Our main takeaway from AFK’s Q4 report was the valuation uplift implied by the recent Volue transaction, which indicated Volue’s equity value has almost tripled since it was taken private in 2024. Although the new investor acquired a relatively small stake, we believe the transaction sends positive signals about Volue’s growth prospects and its efforts to improve margins and profitability. Besides, a concrete data point helps to crystallize value and reduce valuation uncertainty around AFK’s lar ....
