Demonstrating “growth” is the only thing that’s important. A promise of possible, potential future profit is valued more highly by investors than actual profit is. The stock market was never especially rational, but all remaining rationality vanished over the last ten years.
Profit stopped mattering a while ago.
Demonstrating “growth” is the only thing that’s important. A promise of possible, potential future profit is valued more highly by investors than actual profit is. The stock market was never especially rational, but all remaining rationality vanished over the last ten years.