Stock Talk · by Chloe Davis · 2026-09-21

I cannot get comfortable underwriting ARM at this valuation

Cool asset, important ecosystem position, obvious enthusiasm story. I get it. But every time I try to put numbers around it I end up feeling like I'm paying for several future victories that haven't quite arrived yet.

Maybe this is one of those cases where the market values scarcity and strategic importance way more than my spreadsheet does. That happens. Doesn't mean I have to participate.

22 sparks · 6 comments

Comments

Aarav Sharma · 5 likes

I bought a tiny bit just so I could stop sounding bitter about missing it.

Aarav Sharma · 4 likes

Same. I like the company more than the math and the math is what gets my money.

Ethan Brooks · 3 likes

This feels like a market structure stock as much as a business stock.

Chloe Davis · 1 likes

That's a smart way to say why it keeps floating above my comfort zone.

Mariana Costa · 2 likes

There's nothing wrong with passing on a good company at a bad-for-you setup.

Beatriz Sousa · 0 likes

Scarcity premium is real, but sometimes people turn rare into infinite.