RE:Reliq & The CompetitionWell said.
The size of the market is the biggie here. There can be all kinds of competition. The growth in market share RHT is going after is tiny compared to the overall market size. And that much more of an opportunity.
On a valuation note one can also look at a PEG ratio. Anything below a 1 PEG ratio is very good. If a stock is growing earnings at 100% which is what is potentially there for RHT then it can have a PE of 100 and have a PEG ratio of 1. On a valuation basis as long as they deliver this price is still a great value.