Yesterday Bumble had it’s initial public offering (IPO). The starting price was 43 USD, a valuation of more than 8 billion and it shot up to 76 USD, a valuation of over 13 billion.
Despite this high valuation, the company lastly made a net loss and only a few hundred million ($376.6 million) in revenue.
The current market for Tech, EV and Cannabis stocks is in a hype bubble. I made profit with some overvalued stocks and currently sell these and rebalance my portfolio with more value stocks.