Yes, the past 12 months have seen exponential rise in prices and valuations of Stocks.
IPOs are coming as if there is no tomorrow.
The brief fall in March 2024 which was expected to be a tick type recovery () went more like V type and it has added fuel to the overly priced stocks.
Many/most times people pay premium for quality but there is a maximum utility of a product/service itself and in context of stocks, there is nothing much left now.
75-80% of stocks in this space is overvalued and there is hardly any value left.
More problematic is that above 40% are even overpriced after discounting 18-24 month earnings and the stocks who were completely out of fundamentals and forever staying at valuations they might never reach are increasing.
Considering that more than 75% of companies still have to post their results along with the general sentiments in the markets, it will be a hell of a ride.
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