I am surprised that investors celebrate losses. I think for next 5 years this company will earn $1.5 / year which points me to $22.50 given company has good balance sheet than others. Worst case is company will earn $0 to $0.50 which I will not give it value of $11. May be most likely thing would be earning of $0.75-$1.10 stock around $15.
What NUE has so great that company deserves such high valuation.People will learn overtime. They don't understand first shock and always try to climb the old ladder. Time will tell how much valuation will be sustainable.