The stock valuation isn't based on cash on hand. Stock valuations are based on value to the investor. People have been falling all over themselves stating your sentiment for years now.
Meanwhile, investors are becoming multimillionaires and probably multi-billionaires looking at value sentiment for equities.
Something is definitely laughable alright.
The biggies FB, Amazon, Spotify, UFC, Bitcoin, Tesla.....
They ALL started out dealing and continue to deal with the FUD(Fear Uncertainty and Doubt) that is cast upon them and their less savvy traders by those like yourself, who pretend that a company in startup phase has or should have had much more $$$ cash on hand.
Meanwhile, day in day out, the workers of the company go on to complete their objectives.
Something is definitely funny about the unbeliever when the late chips are still in play.
All the best! Have a great day folks!
News 
Market Data 
Discover 
