Originally named for their rarity, technology “unicorns” are now as common as cats and dogs. As the number of companies hitting the $1bn valuation mark that defines a unicorn skyrockets, it’s easy for investors to be giddy with excitement. But, as City AM points out, these magical creatures may be too good to be true:
The so-called “unicorns” are being targeted by traders betting their share prices will fall. Named because of their mythical, elusive status, the number of unicorns running around has been enough to garner speculation that many of these firms are overvalued.
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