It's a bit off topic I guess, but a Ponzi is where previous...

It's a bit off topic I guess, but a Ponzi is where previous investors are paid by the issuer using money from new investors. Nvidia makes tons and tons of money, pays a tiny dividend and buys back a fair chunk of stock. People have bid up the price of the stock on anticipation that it will more than takeover the world and I'd say it was in bubble territory, more of a "greater fool" pricing story than a Ponzi. The company itself is highly profitable, just overvalued as INTC and CSCO were in the 99/00 dotcom bubble (CSCO is still below its all time high... 24 years later). Good companies, wrong prices.

It will be interesting to see if ZIP can make some sustainable profits and then how they should be valued. I'd say the jury is out still, but more likely than when they were selling below cost.