Projecting valuation is a volatile necessity.
Sometimes the market gets it right. Amazon IPO'd at $18-ish a share in 1997 and continued to spike in price (including three 2:1 or 3:1 stock splits) for the next 5 years before turning their first yearly profit in the 6th year.
Sometimes the market gets it wrong. Fill in one of many yearly examples yourself...
Sometimes the market is weird with valuation because the people pumping money into it don't fully understand what they're investing in...like the "Linux rush" of companies in 1999-2000 where being even remotely associated with "Linux" made you the hottest new thing to pour a ton of loot into.
I have no idea what investors see in WhatNot. Maybe they hold some important patents. Maybe they've developed cutting edge streaming or back end software that others don't have. Maybe it's misplaced investor confidence. 🎵Maybe it's Maybelline🎵
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