Don’t get me wrong, good company with a bright future but can someone explain to me who is buying this priced higher than pre-covid levels…
Yeah, it should be priced close to bankruptcy…
But stock market was never close to reality.
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This is what is known as the “Greater fool theory” in action.
In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to “a greater fool”. In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price.[8] It is also called survivor investing . It is similar in concept to the Keynesian beauty contest principle of stock investing.
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This has to hit 52wk high then drop, if it goes much beyond that I will be shocked.