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Are you kidding me? Ather's valuation is completely detached from reality. They're losing money on every scooter sold, have barely 3% market share, and are asking for a ridiculous P/S multiple that even Tesla would envy. The 30% subscription speaks volumes..smart money knows this is overpriced. The GMP collapse from ₹7 to ₹1 is just the beginning. I predict a 5-10% listing discount, and that's IF the QIBs bail them out today. Classic case of a hyped startup with fancy tech but no path to profitability.