I really can't understand Moore's IPO maneuver this time. A market cap of 300 billion right at the open, but Q3 revenue is only 780 million? Then look at Cambrian in the same sector—they have 4.6 billion in revenue supporting a 560 billion market cap. By that calculation, Moore's valuation multiple is just way off the charts.

To put it bluntly, this valuation is completely detached from the fundamentals. A high market cap without performance to back it up is like a castle in the air. There might be short-term speculation from hot money, but in the long run, this bubble is bound to get squeezed. Right now, the price has clearly been driven up by sentiment, and once the market cools down, a valuation correction seems inevitable.