The valuation problem
LWLG closed at $11.97 yesterday. There are approximately 107,965,871 shares outstanding giving Lightwave a market cap of roughly $1,292,351,475.87. Using a reasonable price to sales ratio of 6 to 1, Lightwave should be doing $215,391,912.645 in revenues.
Does anyone of you see that happening anytime soon? If the share price goes higher, so should the revenue figure to justify the higher valuation.
Does anyone remember Greenspan coining the term "irrational exuberance"?
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