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BTC’s power usage supplies the security of the network. Storing over .5T in global wealth seems like a reasonable reason to use power. It doesn’t mean BTC can’t integrate with renewable energy in a greener looking future. Just feel like there are far more important issues to be worrying about right now if you consider yourself an environmentalist. In my opinion there are many morally questionable industries using/wasting a lot more energy than bitcoin is–but I don’t believe the focus should be on “blaming” companies or networks for using energy in the first place.
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Yikes.
Global wealth is ~$360T so …
Someone please explain to me why Chipotle is:
- up roughly 40% in the past year
- currently trading at a trailing P/E ratio of 166
I’m looking at the CFRA report which gives a $1,400 target price:
Our 12-month target is $1,400, implying a P/E of 64x our 2021 estimate, a steep and likely warranted premium to peers given what we see as well above-average long-term EPS growth prospects.
wut
They probably gave the stock analysts free extra meat and guacamole.
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Anecdotally, the world is minting fresh teenagers who love Chipotle on a daily basis and the old teenagers aren’t changing their eating habits for something that costs roughly the same per visit as every other fast food place. The name recognition for it is incredibly strong and p/e doesn’t matter because STONKS
I get Chipotle every Friday
nope, you have to go to Qdoba to get free guac
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No joke, it seems to be attributed to their “investment in digital,” i.e. they have a good app. Hmm.
Are they going to change the way we think about burritos? Are they like Uber but for salsa?
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This is going to sound like a joke, but signing up for the app let me activate Guac Mode! (Randomly, a few times a year, they will give you free guac on all your orders for a week)
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I think the bigger yikes is piling your savings into morally bankrupt corporations at absurd valuations while shrugging it off and saying meh, can’t time the market, but hey maybe you’ll end up being right.
Disclaimer: I’m long btc from 7k in 2019 with >50% of my portfolio. It was the first thing I started investing in once I got sober at age 28 and has been a huge factor in quickly reaching financial independence. It’s almost like this stuff is predictable, but hell what do I know.
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Ah yes, that bulwark of morality, Bitcoin.
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Predictable 5,000% returns ITT
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I’m sure you already know this, but much of CMGs success was attributed to the fact that their mobile app/online order system was set up perfectly for COVID long before COVID hit (it was 100% in place with all the kinks worked out), so they were able to adapt easily and crush. That might explain why it’s up, but I don’t think it will explain an P/E of 166.
Charge your fucking phone!
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This cuts both ways though. I think after the whole E. coli problem they had, the stock took a beating and any name recognition they had was negative. It looks like they’ve gotten past that.
On a related note, I think I have noticed that Chipotle is worse than it was pre E. coli. Apparently they implemented some new food safety measures after the E. coli and it seems to me that the result is that while it may be safer, it’s not as good. Still for that price point and convenience level, it’s a pretty good burrito.
Awesome ride so far, but have you considered paring down your BTC holding so you’re more diversified?