Moonpig investors need a get better soon card after the listless share price performance since it IPOed over two years ago at 350p.
Online shopping returning to more normal levels after the pandemic spike is one reason why the shares have suffered.
Postal strikes, too, haven’t helped but the niggling feeling is that like a lot of floats around that time, Moonpig was just overvalued.
Even now, Moonpig trades on around 25 times earnings for the year just ended according to consensus forecasts.
Having cut sales forecasts earlier in the year, the cards and gifts group said Mother’s Day had given it a boost with revenues of £320mln, up 5%, forecast and £344mln for fiscal 2024.
How the recent disruptions have affected earnings will be the thing to watch in Thursday's full-year results statement.
At 133.6p, Moonpig is valued at £457mln.