This year's earnings are not important to the market. That's obvious enough. On Newing's estimates this will be on a PE of 38 on next year's earnings and with earnings growth of 100% plus for the next two years and then likely to be very high growth for a number of years thereafter, a PE of 38 on next year's estimates is dirt cheap IMO. Newing probably has the same opinion given his DCF valuation of near $3.
I know the forward earnings are still speculative but it is clear they will grow very strongly for years and I think Newing is being conservative (rightly so until we get more guidance). If he is conservative that just adds to my conviction that this is dirt cheap.
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