I would agree branding alone won't hold this space, but also believe skull makes a solid product. A very serious argument could be made that they make the highest quality gaming headphone with Astro, and have leveraged this technology across other Skull gaming headphones to seriously compete for a large portion of this market space. Never seen a bad review of these headphones.
Have you read the online reviews for Skull products? Nearly all suggest a quality product for the price, Can you get better ones....sure if you want to spend more. I think they have a solid business model with their full warranty. So branding aside (which they do very well) the company employs a solid business model with a vision. Because of this I don't see them as a flash in the pan.
I'm conservative businessman in my 40's. Probably not buying Skull, but respect their product and the company. I think traders feel the same way and struggle with understanding the desire for these products (we don't think like a 20 year old) and thus have a difficult time believing the growth story. That's why I suggest earnings has to be the story and proof. Don't have to have a moat, just be very good at what you do (Nike, Monster energy, Lulu). And there's a much larger audience for which they only need a very small share of to be successful.With only 28mil shares outstanding, doesn't take but a couple mil in net income to noticeably bump up the EPS.