You have to consider that from the moment they bought revenue with shareholders money the business was going to start getting measured in a PE basis.
My take is that the huge share price slide essentially started as new shareholders began to consider this an M&A business at least in the short term. The measure of success then becomes improving the PE ratio.
Whereas before it was a start up with entrepreneurial management building something from scratch. The SP was driven by sentiment because as long as you believed they could build something the sky was the limit.
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You have to consider that from the moment they bought revenue...
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