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 - Home https://bbc.in/2MVPKuh

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Sheff Wed to start next season with 15-point penalty, bidder told

The EFL has informed the preferred bidder for Sheffield Wednesday that the club will start next season in League One with a 15-point penalty...