With liquidity at all time high, it is normal to find companies with forward PE of >25. This is espeically true for tech companies with projected growth in the double digits.
So, why is Cosair Gaming (CRSR), one of leaders in gaming and streaming hardware have such a low foward PE of <20?
As far as I can find, there is absolutely nothing wrong with CRSR. And as a gamer myself, their products are often comparable with the best in business ( Logitech, Razor, Noctua ). They also have more or less a monopoly for high end DRAM sticks and streaming equipments.
However, in the short term, the stock price isnt decided by valuations. Merely but how much people are willing to buy or sell. And in the case of CRSR, there is fund that would like to sell out of CRSR. The name is Eagletree.
They are selling because they are too heavily weighted on CRSR, and that was their plan all along. Eagletree was an early investor in CRSR, and greatly helped CRSR with their growth and eventual IPO. It is normal for the fund to reap their rewards. They still have a huge holding on CRSR, so I do not expect CRSR's price to go anywhere anytime soon.
No one knows when Eagletree will stop dumping CRSR's shares. But once it stops, expect it to moon.
精彩评论