$BWMX The worst stock in Mexico? (1/4)

* SPAC
* MLM
* Washed up concept, old Betterwares already liquidated
* Switched auditors just before growth rate mysteriously took off
* Nonsensical international growth plan
* Dubious claims about logistic capabilities

* Basic and egregious professionalism issues (poor translations, blatant errors in prospectus, corrected earnings reports)
* Potentially misaligned with shareholders
* Bizarrely large dividend which makes little sense
* MLMs already a well-worn concept in Mexico.

* Stock already up threefold due to impressive retail promotion
* However Covid tailwinds will turn to massively negative comps in 2021/22
* SPAC deal almost failed... no one wants a Mexican MLM once the e-commerce gloss is gone.
* Single digit stock in 18 months

Disc: No position, just a warning for everyone. I love Mexican companies, and I'd hate for this to be people's only experience investing there.

Conclusion from my full-length report on the company...