at valuation. None of the hot stocks current P/E or lack of it can justify the market cap. But the market is looking for future leaders, not past ones. That is why no matter how cheap the old industrials are & good value, the stock price will not go up because investors are not going to put their money in a safe deposit box.
I did not make any money by betting on cheap stocks last year. This year I follow the new paradime & I made alot of money. I bought meself a Mercedes that I would never use my salary to buy. Stop trying to reason & follow the crowd.