How can a company be valued at billions, but not make any profit?

You can't have a company worth billions of dollars and not make a profit, right? Wrong, and here's why.

from BBC News - World https://bbc.in/2MVPKuh
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California asks US government for billions in fire relief funds

Governor Gavin Newsom said the requested funds will help in immediate and long-term recovery work. from BBC News https://ift.tt/Gr2hMkX