by Chris Black
There is no fundamental analysis for the pricing of any stock traded on US exchanges. The valuations are absurd across the board. Like the Democrat party, only the narrative matters. Not the true business fundamentals. The entire thing is like kids playing Monopoly. “Nuh, huh, my house is worth like a billion dollars because it is so much better than your house.”
Why not just go out and say Tesla should be worth $50 trillion. It doesn’t matter. If the company was actually valued based on somewhat objective analysis, you are maybe talking $15 billion max. The company is currently valued as if they control 120% of the entire global transportation market. Selling over 100 million automobiles a year. The fact that the company loses money on every car they sell, and only makes a profit off selling carbon credits gifted by world governments makes any valuation above $1 insane.
I pity the Enron executives. What they did doesn’t even register based on the fraud in the stock market today.
As Apple, Microsoft, Amazon, and the rest of the Wall Street darlings hit multi trillion dollar valuations, millions of small businesses that supported moderate lifestyles were closed forever.
You can make a six figure salary working for a megacap, but that salary doesn’t mean much where those megacaps exist. $150k a year in Silicon Valley is equivalent to $12 an hour in Indiana.
Balance is gone from the US economy and the oligarchs don’t care.
They added even more to their immense wealth and they got the peons to beg for meaningless jobs.