Stock market data service Yahoo Finance announced today that it will now display price to earnings ratios based on 2050 projected earnings. Yahoo will no longer use trailing twelve month earnings because “it’s an outdated concept,” the company said.
“Prior year earnings are not relevant at all,” said Yahoo VP Rick Carlson. “Investors are no longer interested in what a company did last year. Instead, they want to know what the company will do in 30 years. That’s why they’re buying.”
After Yahoo implemented the change, buying of electric car manufacturer Nikola surged as investors started to notice the new P/E ratio of 1.2.
“I’m finding so many deals in the stock market right now,” said 16-year old day trader Mikey Williams. “I bought Apple for just 0.75 times earnings, which is a steal!”
Yahoo is also rolling out a new feature to select SPACs that will allow management to directly input made up financial projections on their company’s Yahoo Finance page.
For an extra fee, Yahoo won’t alert customers that the metrics are actually projections for the year 2050.