It would take a brave man to call a top to the bubble after 11 years of stocks absolutely ripping but, for once, it looks like FT Alphaville might have nailed it.Just over a month ago, we published a live spreadsheet detailing all of the electric vehicle — and related technology — stocks listed on the global equity markets. Without exception, they’d all been ripping in unison —doubling, tripling and quadrupling to the extent that their market capitalisations were completely detached from the underlying financials. What was propelling it wasn’t entirely clear. Perhaps it was the outsized returns of king stonk Tesla, or optimism over government-driven renewable energy capital expenditure, or maybe, it was just good ol’ fashioned “I want to get rich quick” energy.Well, as it
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It would take a brave man to call a top to the bubble after 11 years of...