Only if you assume that the market was not already aware of this and therefore has not already priced it in. Companies are (at least theoretically) valued base

Only if you assume that the market was not already aware of this and therefore has not already priced it in. Companies are (at least theoretically) valued based on their future potential. Just because "real value" of user profiles may not currently be getting realized, does not mean that it isn't already incorporated into the value of the stock.