Multi-baggers are as fickle as the markets
Multi-baggers are often products of business circumstances, competitive context, and scarcity of shares
After an investment phase comparable to a dream run, the markets are gradually settling down. The occasional bouts of fear and the regular capitulation seen in overvalued companies only keeps the excitement quotient alive. Even though most serious investors clearly realise that the party of 2017-18 is drawing to a close, few people have left the party. Nobody wants to be left out of any residual excitement.