I totally agree. It's stock price is also inflated much more that Lynas as can be seen by looking at how much it is down from recent highs.
MP high 51.77 to day 33.22 down 36% Current PE 56
Lynas high 8.04 to day 7.33 down 9% Current PE `40.
Now I take no satisfaction in MP numbers. I see it as an indicator that green stocks are inflated. That MP because of being higher was hit earlier and harder. I see MP as a warning to all Green stocks. Of course TESLA has gone crazy and now has a PE of 344. And that totally disproves what I am saying. From memory Amazon never got that high of a PE during the Dot Com run up. It fell from a high of 113. Dec 1999 to 5.00 in early oct 2001.
So i guess it is up to each stock holder to look at MP to see if it is an indicator that Lynas should have a Market cap of more than MP or see MP as a warning about what is happening. During DOT COM holders of Differnt stocks loved to point to other Dot Com stocks with higher evaluations to prove there stock should go higher. Few saw the early falls of the Stocks with the highest PEs as a warning of things to come for all stocks in Sector. Northern Telecom had a Much Larger PE than Amazon during Dot Com. It started falling sooner than Amazon. It eventually hit Zero and Closed It was one of the top five telacom companies in the world Today it is known as Nortel but no records before 2000. Many say it was the trigger for the Dot Com collapse
Nortel - Wikipedia
Just like many say Lehman Bros was the trigger for banking collapse
https://en.wikipedia.org/wiki/Lehman_Brothers
So you can be very happy with MP misfortunes Just like many were in Dot Com when Northern telecom collapsed, they were sure all that money would go into their company. Same thing for Lehman bros in banking sector. Be aware we do not know what will start the Green sector falling. JMO this like every overheated sector in history will come back to standard metrics for evaluation.
I use Puts in overheated sectors as hedges. My MP puts have done well. After several years of Tesla doing well for me the latest round with Tesla has been a disaster. Still up overall with Tesla puts.
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