price to sales not P/E
Most well run companies have a P/S of 6 or less. WEED has a P/S of 42 so the share price is way out of whack !!!! WEED needs sales of 2.5 billion to justify this share price.
WEED does not even have a P/E yet as it has no earnings. I highly doubt WEED will be able to accomplish 2 billion in sales in the next five years. Im just explaining how the market usually prices companies.
Actually morst well run companies have a P/E of 15 to 20. WEED would have to have earnings of ONE BILLION to justify this market cap. WEED will not have a billion in earning for at least ten years.
1986 BLACK MONDAY crash 13 years later was the 2000 Tech bubble crash. 8 years later was the housing 2008 market crash, 6 years later was the 2014 oil crash, 6 years later will be the 2020 marijuana market crash.
There is no place ever that justifies a 14 billion market cap on a company with 320 million in sales. The entire MJ industry is running on unsustainable gains in share price. Eventually the whold hpouse of cards will fall.
Mark my words the MJ stock crash will happen eventually and people who buy at these levels WILL get fleeced. HISTORY REPEATS IT SELF and the only industry that could possibly crash next is the MJ industry sry.