$NEBIUS(NBIS)$ This looks like a strong long-term opportunity around the $200 level. If they can get anywhere close to a $20B ARR trajectory next year, the current valuation would likely look mispriced in hindsight. In that scenario, fair value could be significantly higher over time, potentially closer to the $700 area, depending on execution and market conditions.

That said, it's still all about assumptions and future guidance, not guarantees. The key is whether they can actually convert expectations into real revenue growth. The upside remains significant if the thesis plays out.

You don't always need to find the next parabolic stock. Sometimes you just need to own the companies getting paid as the buildout continues.