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r/valueinvesting
Title: Why is SPHR trading at 100x earnings? What am I missing here?
Investor summaryBearish
Author questions SPHR's high valuation (70-110x earnings) for an entertainment venue, seeking the bull case.
Bear points
- SPHR trades at an extremely high valuation (70-110x earnings) atypical for an entertainment venue operator.
- The current valuation multiples are more suited for a rapidly scaling software company, not a physical venue.
SPHR价值 / 回购
Post body
The Las Vegas Sphere is great and all, I see their marketing on instagram but I genuinely don't understand what's going on with SPHR. Google finance has it at a 110 PvE ratio. Its up 287.08% over the past year.
Depending on which data source you use, the stock is trading somewhere around 70–80x trailing earnings. For a company with a $5 billion market cap, that's a valuation that I'd normally associate with a rapidly scaling software company, not an entertainment venue operator.
What exactly is the bull case here? These are extremely bullish tech stock ratios.
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