azrving wrote:
There's no way that anyone was coming in to pay $420 a share for a company that has not made any money in 15 years with limited marketability because of the price range of the cars.
In the fall of 1995 a Canadian company looking for gold in Indonesian said they had found a massive gold deposit, their shares skyrocketed on the news, they had a market cap. of CDN$6 BILLION almost overnight.
The company was called Bre-X. It was all a fraud they later found out.
It never had any valuable assets nor ever made a penny of profit and yet it made a LOT of millionaires and bankrupted even more wealthy people along the way.