P/E > 25
Deals of this kind show how fucked the capital markets are! The deal is being financed by creating shares, ie. debt, worth $ 29 billion and no regulator is involved. Existing shareholders in Sqaure don't get a say in their equity being diluted, but the existing investors in Afterpay can cash out quickly and easily, and all to pay for a company than hasn't turned $ 1 billion profit.
These short terms, get rich deals, are screwing any kind of long term financial stability.
Biting the hand that feeds IT
