Bitcoin has no profit, has not capability to generate profit, has no intellectual property and yet its worth almost 70k for one single BTC. Your point makes no sense. Everything in the market is simply about what the supply and the demand ratio for the particular item.
In this situation the lots of people thing this company which has a finite amount of shares at present is something they want to own. Therefore the price. It doesn't need to make sense there just need to be an unproportionate amount of people with conflicting views and appetite to buy. That is happening here and now with ART.
IPO - Airtasker Limited - 22 March 2021 #, page-145
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 (20min delay)
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Last
30.0¢ |
Change
-0.023(6.98%) |
Mkt cap ! $135.9M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 32.5¢ | 30.0¢ | $148.5K | 483.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1300 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 10000 | 1 |
View Market Depth
| Last trade - 15.52pm 04/10/2024 (20 minute delay) ? |
| ART (ASX) Chart |