3 ms·
Greater than 60% of their profit is still from one-offs which are likely to go away soon (or even become liabilities like the bitcoin), their PE ratio is > 1000
by grey-area 6y ago
Greater than 60% of their profit is still from one-offs which are likely to go away soon (or even become liabilities like the bitcoin), their PE ratio is > 1000, and they have only just turned the corner and started profiting from car sales; in previous years they made a loss, which is fine in a growing company, but they are not some super-profitable company which justifies their valuation - their valuation is a projection of future growth, and I don't think it's unreasonable to say their valuation is very optimistic given their sales and position in the market.