They do, but the accounting rules change based on context. They will file an S1 today outlining how they are rolling in profits then, come tax time, suddenly they are hemorrhaging money. Flesh-and-blood investors have lost all trust in financial filings. See SpaceX.
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They do, but the accounting rules change based on context. They will file an S1 today outlining how they are rolling in profits then, come tax time, suddenly they are hemorrhaging money. Flesh-and-blood investors have lost all trust in financial filings. See SpaceX.
You think Elon Musk fans were reading the financials???
The financials were always bad. Everyone with half a brain avoided the IPO. Did you?
Exactly. The financial filings don't matter. Even the people that read them immediately dismiss them.