Are you suggesting that funds (which are all facing large redemptions) are out buying stocks with a PE of over 400? I don't think so. You are looking at daytraders and MM's moving this stock, not institutions. This is one of the great shorts around.
The funds were buying it when Nete had a negative PE, and they're buying it more now as it quickly turns positive. So thats a fact, public record, that they have been buyers. Yes. please short the stock. I'm looking forward to it.