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This. If you look at the financials of all companies listing their stock almost all of them have really bad financials.
by llaolleh 6y ago
This. If you look at the financials of all companies listing their stock almost all of them have really bad financials.
- ignoramous 6y agoCurious what you mean by bad financials? Coinbase, IIRC, is on track to do more than a $1B in profits for the year ending 2022 with a user base of 50M which is likely to grow even more as crypto breaks into larger markets since the interest in it has only been growing. Of course, the usual caveats apply, but the crypto economy is getting too big too fast for it to disappear overnight.
- dkrich 6y agoCan’t speak for OP but I was referring to the overall landscape- the arks, Tesla’s, and even Bitcoin itself. People are buying these simply because they’ve been going up by orders of magnitude in a very short time. When hoards of people are flocking to investments because they’ve been going up and applying fundamentals after the fact, you’ve got yourself a bubble. Yesterday the complete mania around Bitcoin and the opportunity for Coinbase was palpable, particularly among those I follow who couldn’t have cared less about crypto six months ago.
- llaolleh 6y agoThis is spot on. Other than Coinbase(which is very risky), the overall financial statements of companies going public don't have great revenue growth and almost no shareholder's equity.