I'd have to say Moderna, which is 11 years old and also publicly traded, but should qualify because of how recently they actually brought their first product to market.
Considering every non-cash asset is wildly over-valued right now, I don't know that I believe any non-health startup (that I've heard of) is undervalued.
I have a lot of faith in Rivian, for example, but they're valued ar $80B before even selling a single vehicle. Look at what happened to Workhorse if you think that's reasonable.
Moderna's market cap is only $170B, which seems low considering their potential to make hundreds of billions annually if they find even one new application of mRNA technology (e.g. cancer treatment).
Super interesting take! Agree - Moderna has huge potential.
The one thought that comes up in my mind is about how binary / step function like the outcome for moderna is, and its implications on how it is valued in public markets. I.e., if they are able to find 1 new use case for mRNA (like cancer), the upside outcome is an overwhelming 1. Versus if they dont, the outcome is a 0. Public markets generally value companies as a function of
(1) their potential (which moderna has a lott of) and
(2) the probability of that potential manifesting into reality
Regardless, agree! Moderna has massive potential. The above thought was more from the perspective of decoding why the public markets may be undervaluing it :)
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[ 3.4 ms ] story [ 11.1 ms ] threadConsidering every non-cash asset is wildly over-valued right now, I don't know that I believe any non-health startup (that I've heard of) is undervalued.
I have a lot of faith in Rivian, for example, but they're valued ar $80B before even selling a single vehicle. Look at what happened to Workhorse if you think that's reasonable.
Moderna's market cap is only $170B, which seems low considering their potential to make hundreds of billions annually if they find even one new application of mRNA technology (e.g. cancer treatment).
The one thought that comes up in my mind is about how binary / step function like the outcome for moderna is, and its implications on how it is valued in public markets. I.e., if they are able to find 1 new use case for mRNA (like cancer), the upside outcome is an overwhelming 1. Versus if they dont, the outcome is a 0. Public markets generally value companies as a function of
(1) their potential (which moderna has a lott of) and (2) the probability of that potential manifesting into reality
Regardless, agree! Moderna has massive potential. The above thought was more from the perspective of decoding why the public markets may be undervaluing it :)