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The US Stock Markets Levitation Act over the last eight years has been led by a handful of stocks, several of which have, for the most part, defy traditional valuation metrics.

The notorious Fang stocks have pushed the market

deeper and deeper into unexplored territory as the twin phenomena of zero

interest rates and the rise of passive investing have caused flows into these behemoths to create a

self-perpetuating feedback loop. Amidst the Hooplar, another company which could find no place

amongst the hot acronym stocks

has also attracted the kind of fevered backing which only happens at bubble tops.

Investors enamored with the sleek sexy products which the company has been putting into customers hands, have ignored billions

in regular capital raises, further billions in losses, and a series of production line issues

...