Is 10x Capital Venture Acquisition Corp. II overvalued or undervalued?

As of 9 February 2024, the valuation grade for 10x Capital Venture Acquisition Corp. II has moved from does not qualify to risky. The company appears to be overvalued given its negative financial ratios, including a P/E ratio of -0.0157 and an EV to EBITDA of -0.14. The current price of $0.01 is significantly lower than its 52-week high of $0.33, indicating a potential lack of investor confidence.
In comparison to its peers, 10x Capital Venture Acquisition Corp. II's P/E ratio is notably better than Oxus Acquisition Corp., which has a P/E of -5.2527, but still reflects a concerning trend in valuation. Other peers like Perception Capital Corp. III and DP Cap Acquisition Corp. I have even more extreme valuations, with P/E ratios of -61.9793 and 91.3500, respectively, further emphasizing the risky nature of this investment. Overall, the company is assessed as overvalued, reflecting significant financial challenges and a lack of positive returns compared to broader market indices.