[travisoneill1]

A stock goes up when someone buys it and down when someone sells it. Valuations based on financial numbers work only if decisions to buy or sell are also based on that framework. In this case people are buying based on the felling that this is "the next big thing" without looking at the numbers. So, since people keep buying, the stock keeps going up. They will get slaughtered, but it will take time.

[blibble]

> A stock goes up when someone buys it and down when someone sells it.

this isn't true: to buy a share someone else has to sell it (with some exceptions)

in reality the price depends on what the buyer and seller agree (electronically or otherwise) -- just like everything else you buy

in general if demand is higher than supply the price rises, just like other markets

[travisoneill1]

Right. Just easier to say buying a stock drives it up than buying a stock at the offer price removes liquidity at the lowest current offer price.