around $13 per share this morning, University of Florida finance professor Jay Ritter suggested the stock should in actuality be worth far, far less.
Having only brought in about $836,000 in revenue last quarter — down 30 percent from last year, which is not the trajectory you want to see in a startup — Ritter told the broadcaster that his calculations based on cash per share suggest the stock is still overvalued by a staggering 1,000 percent. in valuation, on paper the social network is still somehow valued at around $2.79 billion — a third of the more thanearlier this month.
"It's much more of a speculative half-proxy for the former president's reelection prospects, and half kind of a long shot early-stage opportunity to get in on a potential new tech company and social media platform," Tyler Richey, a Sevens Report Research analyst, toldTrump Says He's Putting Elon Musk in Charge of Making the Government Super Efficient, Like He Did With TwitterThe Guy Who Wants to Be Trump’s Secretary of Health and Human Services Keeps Doing Weird Stuff With...