More Alarm Bells Are Being Raised About Sky-High Tech Valuations
The number of downgrades and short calls being made on tech stocks that have soared to the stratosphere has picked up this month.
Author:
Dec 23, 2020 2:27 PM EST
As certain tech stocks soar to jaw-dropping multiples, the number of analysts downgrading companies they otherwise like, due to their valuations, is mounting.
PLTR) - Get Report by Credit Suisse. In cutting Palantir’s shares to Underperform from Neutral, analyst Brad Zelnick said the data mining/analytics software firm’s valuation had become “disconnected from fundamentals” and was 50% above what Credit Suisse saw as fair in a “blue-sky scenario.”
MicroVision Blasted as Corporate Husk by Hindenburg Research
MicroVision is essentially a science project that has gone nowhere after 25 years, says short-seller Hindenburg Research.
Author:
MicroVision (
MVIS) - Get Report is a $1.2 billion market cap corporate husk, according to short-seller Hindenburg Research, whose series of comments helped pare the scanning technology company s earlier gains Tuesday.
Shares of the Redmond, Wash.-based company, which had been up by about 40%, were rising about 20% to $6.93 at last check.
MicroVision didn t immediately respond to a request for comment.
Hindenburg Research, which has posted critical comments about Nikola (
KNDI) - Get Report, took to Twitter to lambaste MicroVision.
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I like things that go boom. Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered and continue to cover everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.
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