Is Edoc Acquisition Corp. overvalued or undervalued?

As of 11 November 2024, Edoc Acquisition Corp. has moved from a grade of "does not qualify" to "risky." The company is currently overvalued, as indicated by its negative valuation ratios. Key metrics include a Price to Book Value of -10.20, an EV to EBIT of -21.62, and an EV to EBITDA of -21.62, all of which suggest significant financial distress.
In comparison to its peers, Edoc Acquisition Corp. has a P/E ratio of -10.8071, while Concord Acquisition Corp. III and Oxus Acquisition Corp. have P/E ratios of -1.8318 and -3.3746, respectively, highlighting that Edoc is performing worse than its immediate competitors. The company's stock has significantly underperformed against the S&P 500, with a year-to-date return of -55.45% compared to the index's 12.22%, reinforcing the notion of its overvaluation.