@Yksinainen Comparing it to Tecnotree is almost an insult when talking about a quality company like Etteplan, which has decades of very successful track record in value creation. The Ingmans are a very credible and reliable main owner in Etteplan and they certainly understand how to create shareholder value. I strongly trust the Ingmans and am happy to sit on the stock through even worse times. Historically, Etteplan has been able to achieve an average return on equity of 20% and has paid a growing dividend over the cycle, and has been able to invest part of its earnings in growth both organically and through acquisitions, creating shareholder value (which a growing dividend indicates, as is desirable).
Price formation is not necessarily efficient, as you might guess, due to weak liquidity. Of course, weak liquidity also enables special situations and overshoots in valuation (in my opinion, currently oversold downwards).
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