That pe is nonsense imo. It’s based on a one time $6 billion tax credit that they included last quarter because they assume they will be profitable enough in the future to use it so are adding it into the balance sheet now.
I believe their comps are getting tougher and tougher every quarter as they aggressively drive to turn the profit spigot and squeeze more and more profit out of an inherently unprofitable business model. This is a single dimension stock that is 100% reliant on growing its user base.
They’ve been able to do that because users are aging into the platform faster than they’re aging out but eventually the well will run dry.
