Now let's watch the words "worth" and "value" be thrown around recklessly. :)
With zero liquidity. http://www.otcmarkets.com/stock/GRLD/quote indicates trading volume of 800 shares and their shares were $0.10 until January 28th, upon which someone started trading a few hundred shares a day at about $6.
That's not a bubble, that's someone screwing with a tiny stock. Probably selling back and forth to themself.
You and a friend start a couple "businesses".
You each sell 50% of your "stock" to each other for $xmillion. Since it's a stock swap, no money has to change hands but now both of your companies are valued at 2 x $xmillion and voila you're an instant paper millionaire.
You can play a similar game with paintings and both become instant hot vogue modern artists. Imagine your next piece going up for sale at auction "his last piece sold for $30 million". I've actually known a few artists doing something like this at low $ amounts (a $3000-$15000) in order to stir up interest in their work in local scenes. If you go to a show and see some pieces up, but marked "sold" with a price tag like this, it's usually to create buzz. The best part is they'll both have receipts of sale that legitimize the whole thing.
According to finance theory you're also creating market "value" without there needing to be any new currency circulated.
It's a massive flow of some of the cheapest capital available being pumped regularly into government treasuries and private financial institutions, with central banks (for whom losses are meaningless) holding more and more of the bonded debt continuously, every year.
Then, whether or not a government program like the "Working Group On Financial Markets" ('pluge protection team') prevents cascading selloffs in equity positions, or whether it's simply the self-reinforced cycle of buying-2x%-up-on-a-x%-drop asset trading algorithms that have enough cash this month because of the central banks, and don't have to sell down their equity positions because last months positions are neutral-to-good, there's enough breathing room to trade up again this month, and a reliable "Federal Reserve put" backstopping everyone.
This is happening because we live in a new state of financial fantasy ever since everyone went bankrupt in 2008. Now they just keep printing money and sharing it amongst elite government (military) powers and private equity/asset controlling powers.
Few in the private sector would be solvent if they actually had to take losses on their assets back in 2008, in an environment where liquidity could not match obligations, and everyone would have to sell. It's the same for the public balance sheets, who need profits in the private sector to have any money at all, and who usually overspend and oblige themselves to more debt than they can pay down even if good times lasted forever.
Debt is money, and debt is an asset. Who cares if there's always more debt than money?
We're just all continuously bull-shitting-out money from the central banks, to the elite capital/government institutions, down to the middle- and upper-class. And to the U.S. war machine, which has a magic credit card with no limit, but which would have gone bankrupt in anything like a real market.
One reason they have to do this is to keep baby boomers' retirement "assets" worth something, in a situation where they all are going to want to cash out of 50 year's of liquidity-draining investments over a 20 year period, which will be quite a liquidity-draining effect on the equity markets. But that's a whole 'nother long discussion.
The West bullshits itself pretty hardcore over the television, and on the internet, and in their suburbs, and at their corporate workplaces. But it's the bullshit financial markets (and the fantasy-land equity market valuations) that is the both the biggest pile of bullshit of all, and is the power source which keeps the rest of the bullshit from collapsing.
But, hey, go ahead, tell yourself these are "conservatively" priced markets. You're a great citizen.
Valuations are one of the least reliable attributes that use numbers I've ever seen. They're so unreliable as to be effectively worthless in any meaningful conversation. They indicate almost nothing, and aren't calculated in any consistent or meaningful way. If they're based on anything at all it's the most fractional speculation imaginable. Any company can sell me a single share at a price that would put their valuation into the billions. It's literally made up numbers. That's why this kind of stupidity exists http://www.slate.com/blogs/moneybox/2015/02/05/the_grilled_c...
They make the most popular consumer products in the world, and make a huge amount of profit as a result.