Is Eg Acquisition Corp. overvalued or undervalued?

As of 9 November 2023, the valuation grade for Eg Acquisition Corp. has moved from does not qualify to risky, indicating a significant downgrade in its perceived investment quality. Based on the analysis, the company appears to be overvalued given its negative financial metrics. The P/E ratio is not applicable due to the company being loss-making, while the Price to Book Value stands at -0.25, and the EV to EBITDA ratio is at -5.04, reflecting substantial operational challenges.
In comparison to peers, Eg Acquisition Corp. has a notably worse EV to EBITDA ratio than Vahanna Tech Edge Acquisition I Corp., which is at -0.9598, and a significantly higher negative P/E ratio than Corner Growth Acquisition Corp., which is at 0.0000. The company's poor performance is further underscored by its year-to-date return of -15.87%, contrasting sharply with the S&P 500's positive return of 2.44% during the same period. Overall, these factors suggest that Eg Acquisition Corp. is overvalued in its current market position.