BitMEX Research: Metaplanet's stock price has fallen 54% from its peak, but it is still higher than its net asset value in Bitcoin

ChainCatcher message, BitMEX Research stated, "The stock price of Japanese listed company Metaplanet has fallen by 54% since its peak in mid-February. However, the trading price of the stock still has a significant premium compared to the Bitcoin it holds. When will the stock finally return to its net asset value, and when will the crazy circular reasoning of 'premium leads to premium' logic end?"