This is a clear case of raised valuations across most of the stocks. As seen in the Revenue Grid indicator, this stock was trading at 8 to 10 of Price to Revenue ratio, but from July 2023 it suddenly started going up and went to 18 times it's Revenue per share. Why? God knows! :)
Now naturally coming back to it's historic valuation. To get to it's fair price, within a short duration, such as couple of months, levels of 2230 can be seen. Happy Trading :)
Now naturally coming back to it's historic valuation. To get to it's fair price, within a short duration, such as couple of months, levels of 2230 can be seen. Happy Trading :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.