@kane93
he's not wrong per se.
but what he's attempting to do is apply fundamental (ie historic data) analysis to non fundamentally driven stocks.
the problem is that - if one were to follow his methodology to its logical conclusion
none of the 3 stocks are worth anything but their cash holdings .
BIQ next quarter expects to lose $4m for eg. BTH $3m.
all 3 stocks appear to have their equity valued as is purely because investors belive they will reach cashflow positive sometime in the next 12-24 months - and be aggressively cashflow positive once they hit that inflection point
So once you isolate that - the only useful benchmark for comparison of the stocks is their forecast future revenues over the relevant EV
If a seriously risk off market breaks out all of them will trade lower - because they are spec risk stocks
But thats share price.
In terms of fundamental earnings outlook all 3 put you in the same position - one must go by company projections to value future earnings to assess the risk/reward profile of the stock
So then all 3 pivot on 'trust'. Except its not trust per se - its legally binding/actionable market disclosures
Other than that its simply a subjective assessment
