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A higher P/E ratio shows that investors are willing to pay a higher share price today because of growth expectations in the future. The high multiple indicates that investors expect higher growth from the Company compared to the overall market. A high P/E does not necessarily mean a stock is overvalued.
So many “experts” comment on a stock just by its “current P/E ratio”… there are a lot indicators and the most important thing is to study how the business works, what is the market share held by the company in this sector and room to growth overseas/locally.
But anyway its good that the daily traders exit at the mean time.
