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Cherry picking a piece or two from your link. >Books-a-Million - Saw its stock >VA Linux - .... They set the record for largest first-day IPO price gain; afte
by giarc 10y ago
Cherry picking a piece or two from your link.
>Books-a-Million - Saw its stock
>VA Linux - .... They set the record for largest first-day IPO price gain; after the price was set at $30/share, it ended the first day of trading at $239.25/share, a 698% gain (9 December 1999)
I don't think we are quite in the situation where valuations are based on updated websites. Nowadays it seems like monthly active users drives valuations which when your revenue is ad based, is a smart metric. In Tesla's case, they are actually shipping cars.
- mikeash 10y agoAgreed. During the dot-com bubble it seems like a lot of stock was driven by abject cluelessness and investors' perceived need to get in on any stock with .com in it. These days, it's more like excessive optimism. People actually understand this stuff, at least vaguely, and if they're getting it wrong it's just because they don't see the downsides.