This is not going to be yet another: "Oh, look at the madness of buying Tech Stocks that don't make any money" stories.
But, seriously…. Would you buy a company posting revenues of $1.8 bln, substantially smaller in quantum than its $1.9 bln total losses, where the CEO was once quoted in Forbes: "our valuation and size today are much more based on our energy and spirituality than it is on a multiple of revenue"? In normal markets, you probably would not. You would smile, marvel at the madness of this peculiar technical age, and probably pass up on the opportunity.

But these are not normal markets. With rates lower for longer, returns being difficult to come by, stock markets moving higher by the day, the peculiar market force known as "FOMO" (fear of missing out) drives everyone to analyse the risks of not participating rather than downside risks to the issuer.