SharkJumping

Now entering the DMGI category for remarkable valuations, Handheld Entertainment (HNDH.OB) started trading today at $7 a share, and currently sports an astonishing market cap of $195M - I have to give their financial backers credit if they can sustain this run long enough to dump the shares.  I'm trying to decide if these couple of data points are the start to a full scale bubble in the IPO market, where a company can get a public investor to pay FAR more than any private investor for companies which clearly shouldn't be public.  The plan appear to be to yell "iTunes", followed by either Digital Video or Digital Music, and you too can sport a market cap of $100M+, even if you have very little revenue.