Heck look at what Twitter, Facebook, Tesla or any of these other (at the time) speculative stocks. What were their earnings when initial IPO came out?
Now I'm not saying PHOT is comparable but PE, market cap etc goes out the window at least in the short term (meaning 1 yr plus). They trade on hype and expectation. Is a 10-50 PE fair for PHOT? Who can say. I think we have a lot, and I mean a lot, more up side.