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  "documentTitle": "Lasertec Corporation (6920)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "presentationDate": "2024-06-05 00:00:00",
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  "notes": "The slide uses comparative data to highlight the anomaly of Lasertec's trading volume relative to its market cap.",
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      "text": "Lasertec has a $23B (¥3,630B) market cap and is the most actively traded stock in Japan, trading ~$2B a day despite ranking only 64th in market capitalization – a sign of extreme speculation.",
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      "text": "market capitalization: $23B",
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      "text": "Lasertec has a $23B (¥3,630B) market cap and is the most actively traded stock in Japan, trading ~$2B a day despite ranking only 64th in market capitalization – a sign of extreme speculation. Depending on the week, its daily trading volume is in the top ten globally, in proximity with Nvidia, Tesla, Microsoft, Google, Amazon, and Meta, making it one of biggest bubble stocks on earth. It is also the most actively traded semiconductor equipment stock in the world, surpassing the five largest players ASML ($377B market cap), Applied Materials ($177B), Lam ($122B), Tokyo Electron ($101B), and KLA ($102B). On some days it trades 10X the dollar volume of ASML, the world’s largest semicap player. Its multiple is equally preposterous at 17X sales, eclipsing all of the leading semicap suppliers.",
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      "text": "Source: Capital IQ data; Bloomberg data",
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      "text": "Lasertec 10-year stock chart",
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