P/E ratios are nice for established conservative companies in non-disruptive sectors when economies actually ran semi-balanced budgets. Today, one just has to look at Tesla or even the current valuations of some of the SC6 producers to see how freaky things can get. Liontown at A$1.5b, Piedmont A$1.6b or even PLS at A$4.2b are way out of the old rule book. AGY at A$0.12b, with the EV revolution finally pushing up that S curve, could see some of that crazy valuation too in the future if the company keeps on track.
General Discussion AGY, page-917
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