CrowdStrike's growth is too slow to justify its valuation. Its forward P/E has climbed to about 190, while stock-based compensation exceeds operating earnings, so reported free cash flow margins do not show what the business actually earns. x.com  x.com  x.com  x.com 

Gorilla Technology's valuation looks very inexpensive on sales, but dilution and weak profits threaten what shareholders capture. Its roughly $279M market cap is about 1.4x guided 2026 revenue above $200M and roughly 0.6x its $450-500M 2027 target; shares outstanding rose about 63% year over year, while H1 adjusted EBITDA turned negative. This remains a high-risk, high-reward opportunity only if growth becomes sustainable profits without excessive further dilution. x.com 

Snowflake has not solved its stock-compensation problem just because the stock jumped, and its valuation still is not justified by any visible path to real profits. SBC still eats 29% of revenue, GAAP EBIT margin is -24%, and future GAAP earnings remain wildly uncertain. @Sam_Badawi argues the 38% jump on reaccelerating growth shows Snowflake growing out of its SBC problem, but the market simply does not care about the bottom line right now. It remains speculative and could work. x.com 

Blaize's execution is on track, with FY2027 revenue potentially reaching about $200 million, more than its current market capitalization. The company is growing rapidly, margins are improving and new contracts are being signed. Dilution and weak sentiment still weigh heavily on the stock, and despite a strong founder-led management team, risks remain and execution will need to be exceptional. x.com 

AST SpaceMobile's latest offering hurts because it will have to keep diluting to reach its business goals while the stock is already overvalued. It traded above 100x price-to-sales a month ago, front-running 10 years of growth in one year, and dilution hurts most when the valuation is that stretched. At this price, even flawless execution and value creation don't make the shares attractive. x.com  x.com  x.com 

Snowflake's valuation looks full after more than doubling since May on an AI inflection story, given five years of promised inflections that didn't materialize. Stock-based compensation remains heavy at $1.6B against FY2026 revenue of $4.7B, though dilution has been kept in check lately. At about 23x EV/revenue, or 19x forward, it sits near the top of its 2-3 year range. A Databricks IPO could make investors see Snowflake as old relic tech. x.com  x.com 

Credo's upside looks capped as growth falls short of earlier expectations and large stock-based compensation, hidden behind GAAP financials, looks excessive. BofA cut its target to $275 from $340 and Evercore to $292 from $325 on deceleration worries, the 1.6T DSP is delayed, and operating cash flow fell to $90M. The stock is 43% off its high; at $164 it trades at 30-33x FY27 earnings and 13x forward sales, more reasonable but still not worth owning. x.com  x.com  x.com  x.com 

Unusual Machines' business sounds great on paper, but $11 million of trailing revenue against $15.7 million of stock-based compensation makes it a non-starter. Ondas was noted as a strategic investor in Unusual Machines' $150 million offering at $17 a share. x.com 

Intuit is not very compelling at about 14.5x normalized 2027 EPS after stock-based compensation; maybe it deserves 18x, though there is probably little realistic downside from here. x.com 

Cloudflare's roughly $100 billion valuation is hard to justify because it is unclear how shareholders make money at this price. A post the author replies to calls it an amazing company and product at nosebleed multiples; another notes it converts only about 30% of revenue into cash, and stock-based compensation makes that worse. Positive EPS alongside negative net income reflects non-GAAP versus GAAP figures. x.com  x.com  x.com  x.com