RE:RE:RE:RE: is t time to celebrate? You continue to focus solely on sales and claim it is the "normal" reason for co. valuations to increase. Where is this defined and so? It's an assumption added to your dogma, nothing more.
Company's valuations increase for multiple reasons: new disruptive tech (see battery makers or EVs, or biotechs within gene silencing) that have zero revenue (read about 4th industrial revolution), M&A potential for new tech / IP, and when companies transition from R&D to commercialization, future market TAM. These can all account for increases and are just as acceptable as any other reasons.
To your comment "the spike is based on sentiment" the entire market is based on sentiment, it is humans that make decisions on the market and individual equities based on potential expectations, data, and sentiment...
Below are some reasons the valuation is increasing and why this doesn't equate to pumping...
-- Lex started selling it's product in the fall of 2020 and the market is potentially adding in FDA approval which will expand its TAM. Sales is not a light switch, Esp. not for disruptive tech.
-- The market looks 12+ months out (typically) and the need for testing is not decreasing but becoming more of a necessity with the new strains of COVID for example. Lex is positioned well for such a need for such testing equipment.
--The market cap of this company is $100M USD for a TAM of tens of billions which is still a miniscule valuation.
To call someone a pumper b/c they do not share your views is laughable. I invest in early stage companies that have game changing technology. I'd point you to ARWR (a biotech with zero revenues aside from milestone payments when I purchased it) as an example. When you decide to buy into Lex when sales growth hit (if it does) you'll be paying multiples more for it. Your issue is risk appetitie which is fine, let's call it for what it is...