The extra element is because the majority of tech stocks don't make a profit they are valued based on multiples of EBIT or EBITDA. Figure8 price was set based on this metric and I suspect US fund mgrs look at Appen like this. Its a bit confounding for them that Appen actually makes a profit...laughable because it makes Appen look like an old world Coy. if it makes a profit it can't be cutting edge / full of blue sky - or something like that. they'll catch on.
The extra element is because the majority of tech stocks don't...
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