Could be, but you got to look at market cap for these pre-revenue companies. How many have such a high market cap?
Mcap levels are a criteria for index funds. Many pre revenue companies have lower mcaps that Lightwave’s.
One could argue Lightwave has better prospects and thats why the mcap is what it is. Conversely one could argue that it’s because the story has pushed the price up beyond what it should be. The very high relative short position supports the latter.
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