It was the same thing with Tesla. Everyone screaming when Tesla had. $20bn market cap how they were extremely over valued because their car sales revenue paled in comparison to the other car manufacturers and yet their market cap was in the same ballpark. It was such a joke and so obviously unprofessional / dishonest. The traditional automakers were all nearly insolvent (tens to hundreds of billions of debt) and had stagnant growth. At the time Tesla had no debt and was growing consistently ~70% a year. Anyone willing to actually analyze and see the truth and not just read headlines and repeat them could have seen it.