ok help me out here
from that clip, meteora did $10.6m in buybacks during oct–nov
which was 62% of revenue
so full revenue those two months was like $17.1m
based on the same clip margin is 71%
so earnings ≈ $12.14m for 2 months
annualized that's $72.8m
market cap is $130m
so the real p/e is literally:
130m divided by 72.8m = about 1.8
a p/e of ONE POINT EIGHT
even if you use just the buyback number, it’s still a p/e of 2
for one of the biggest solana defi protocols
crypto is actual comedy sometimes
what am i missing here?

Jack
@Jackkk
12-11
Soju revealed at Met Dhabi that Meteora has spent $10.67M buying back the MET token
“We intend to invest into the MET token for a very long period of time”
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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