I guess it all depends on what you think a realistic expectation is.
When you see cash burning junk, companies with no revenue and five year plan to monetisation, multi bagging all because of a fancy word like "disruptive" being used in a presentation it makes the calls here for two times forward revenue or tweleve times forward cashflow, seem fairly realistic.
The time for a re-rate was four months ago.
I think one of the majors was that the raise shortfall went to bludgers.
Bagger in the Making, page-93
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