Kumulus Vape S.A, a pure contrarian exercise in deep value.
( This analysis is a short recap from a more extensive deep dive that I have published [here.](https://open.substack.com/pub/melifinance/p/kumulus-vape-sa-a-tiny-beauty-being?r=84zv6&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true)) Market Cap €8.9M Shares Outstanding 3.02M 52-Wk Range (est.) €2.40 – €4.80 EPS FY2025 €0.33 P/E (TTM) 8.9× Price / NCAV 0.72× …