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That’s true for a handful of companies. It’s not true for the broader industry where things trade at 30x earnings. Tech gets a pass to trade at those multiples
by runawaybottle 6y ago
That’s true for a handful of companies. It’s not true for the broader industry where things trade at 30x earnings.
Tech gets a pass to trade at those multiples. If any insurance or financial company add ‘tech’ at the end (fintech, insurancetech), they get this pass for some reason. If Hershey came up with candytech, it too would be allowed to trade like that.
This is a serious bubble if we keep playing games like this. We know how ridiculous this can be from GameStop, where it has no business trading above $100, but somehow is doing it. Game tech.