FVRR: What am I missing?

**FVRR** * Assuming 0% growth rate, 10% discount rate, the intrinsic value (DCF) of the company comes out to \~29.80 a share. * Assuming terminal value = 10xFCF, a similar figure is reached. * Based on the \~16.40 valuation currently, that is of margin of safety at \~45%. * Liquidation value is \~9.60 * Outside of pure financials, I'm aware of the causes for concern; * Israeli instability/war risk * Cramer just said to hold * AI replacement * Put/Call ratio >1 * Outside of the reverse cramer theory, I feel these risks are being way overblown: * Israel hasn't been threatened with tariffs since Liberation Day, and will probably never be subject to a trade war with the EU. This acts as an offset to the war risk, even more so since its unique to Israel. * There will always be a baseline of people who trust human work over AI, much more so when AI is in its infancy like it is now. * Fiver is also poised to increase AI services provided on the platform, and can also use AI to better match freelancer with consumer (which their ceo has attributed to a 12% YoY increase in spend per customer). * Put/call ratio makes way for a short squeeze if (what I believe is) an undervalued company rises in price. * Amplified by potential share buybacks I'm very, very bullish based on this but I'm open to, and hoping to receive, blowback. Sorry for the bulletpoint formatting, but it helps me organise my thoughts the best.