this could go south of $400 in a hurry and when it gets there it is still a huge bubble... at three times sales it would be south of $100 bil market cap where others in the space trade at less than one times sales.... and the others in the space have the infrastructure such as service/sales which takes capital to develop
the bad news about being in the S&P crowd is that it's the results crowd not the hopes and dreams crowd ..... a company is valued on what it did that qtr and not what it plans to do years down the road... and a company will be compared with peers with company values adjusted by thousands of thousands money managers and hedge funds that can trade millions of shares vs a teenager buying a fractional share with robinhood..... and when a company sticks out as being out of whack with respect to valuation metrics, the market eventually whacks things into place
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