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the market caps also keep expanding due to share dilution.

my numbers were made up, but directionally accurate from what I observed in following stocks like CRWD, OKTA, and others over the past couple of years. UPST is too new to consider, of course.

Point is simply that just because a stock is down 40-50% from ATH, doesn't mean that is is "cheap" or a "bargain".

It may just mean that while the current price remains too expensive, the ATH represents truly silly overbought levels of momo-induced madness.

You don't have to agree with me.

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