> The fact that the market ran up its stock price till the P/E went stratospheric doesn’t make their core business any less viable. Of course the highly inflat

> The fact that the market ran up its stock price till the P/E went stratospheric doesn’t make their core business any less viable. Of course the highly inflated stock price doesn't make their business less viable. It does make it more viable! They've raised large amounts of capital at very favorable terms. In any case, the point is that the price is quite dettached from those "good fundamentals".