There is also a overall market risk with any share which has not achieved profitability. To be more specific, if there is a market correction, shares without earnings (among others) will be marked down. If they cannot secure finance they can disappear altogether, even if they have solid long term prospects. Recollect Amazon during the dotcom bubble. It's share price went from ~$70 US to 1/10th of that. It wasn't cashflow positive until 2001. We know that Amazon made it through and most would recognise it as a great business today but I can imagine that it would have been touch and go in mid 2000. DYOR
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