This market has gone full-blown late-1999. I was there. remember. And it was JUST like this.
So basically you’ve got a company which:
- Has grown wildly thanks to the lockdown;
- Will lose many customers once people are allowed to get out of their goddamned houses and go eat out again, which they are dying to do;
- Is losings hundreds of millions of dollars every year.
- Is already facing political backlash as state houses CAP how much these services are permitted to charge.
People never learn. Never. Except the investment bankers, who get to sell millions of shares of stocks for twice what they paid to have it.