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After Midjourney built 'Midjourney Medical' on Butterfly's Ultrasound-on-Chip and the stock ran +56% in two sessions to a ~$2.3B cap on ~$95M revenue, work out a fair price for the chip platform vs. the rented narrative.

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After Midjourney built 'Midjourney Medical' on Butterfly's Ultrasound-on-Chip and the stock ran +56% in two sessions to a ~$2.3B cap on ~$95M revenue, work out a fair price for the chip platform vs. the rented narrative.
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Verdict. A valuation-discipline call: the platform is real and strategically sound; the price is renting Midjourney's story. Own the chip, not the press release. Live Axion: 66% odds down in 12 months, 88% odds it round-trips to <=$7.

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Butterfly Network (BFLY) — Axion Equity Deep Dive

Verdict. A valuation-discipline call: the platform is real and strategically sound; the price is renting Midjourney's story. Own the chip, not the press release. Live Axion: 66% odds down in 12 months, 88% odds it round-trips to <=$7.

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